Roundoff a/c

does firm prepare a roundoff account to roundoff paise receive or paid ??
Replies (2)
Quick Summary
This discussion explores whether accounting firms create 'roundoff accounts' to manage the rounding of small paise amounts in transactions. While some foreign countries have regulations preventing the repayment of fractions of a penny, the practice in India is less clear. The consensus is that such accounts can be useful for high-volume transactions, akin to threshold pricing, although modern accounting software often handles these calculations automatically.

Yes you can make such account if rounding off transaction in voluminous nature

It's also like treshold pricing. But the computer does all calculations. Governments in foreign have rules that the firm doesn't have to repay 1 paise. I'm not sure about India cause it's never published and they'll loot us. 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details
Company
31 October 2026
Accountants

sankaran and krishnan

New Delhi

B.Com

View Details
Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details
Company
30 October 2026
Asst Manager Accounts

Goodwin Pumps India Pvt Ltd

Chengalpattu

CA Inter

View Details
Company
Featured ARTICLESHIP 31 October 2026
CA Articleship

apricus india

Navi Mumbai

CA Inter

View Details
Company
Featured ARTICLESHIP 28 October 2026
CA- Inter and Articles

N N V Satish & Co.,

Hyderabad

CA Inter

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details