Round Off only the Ledger Value in TallyPrime: 3 Steps + Example

In TallyPrime, you can round off only the Ledger Value using a Duties & Taxes ledger by setting up a round-off ledger specifically for this purpose.

This method allows you to adjust minor rounding differences directly on the ledger value without affecting the overall invoice amount.

Here’s a detailed guide on how to set this up, along with an example.

1. Steps to Round Off Ledger Value Using Duties & Taxes Ledger in TallyPrime:

1. Create a Round-Off Ledger

• Go to Gateway of Tally → Accounts Info → Ledgers → Create.
• Enter the following details:
  • Name: Enter a name like Round-Off for easy identification.
  • Under: Select Duties & Taxes as the group.
  • Type of Duty/Tax: Choose Others (as this is not related to any particular tax type).
  • Rounding Method: Set to Normal Rounding to round up or down to the nearest value.
  • Rounding Limit: Enter a limit like 1 or 0.5 to control the rounding precision.
• Save the ledger.

2. Apply Round-Off Ledger in Transactions

• During voucher entry (e.g., a Sales or Purchase Invoice), add the Round-Off ledger you created.
• TallyPrime will automatically calculate and apply the rounding adjustment to bring the total ledger amount to the nearest value specified by the rounding method and limit.

3. Example Scenario

Let’s say you’re creating a sales invoice, and the total amount is ₹1,000.45. You want to round it to the nearest rupee, so you add the Round-Off ledger with the rounding limit set to 1.

1. Select the Round-Off Ledger: At the end of the invoice, choose the Round-Off ledger.
2. Automatic Adjustment: TallyPrime automatically adjusts the amount:

• If the invoice total is ₹1,000.45, the Round-Off ledger will adjust by -₹0.45 to bring it to ₹1,000.
• If the total was ₹1,000.75, it would add ₹0.25, rounding it to ₹1,001.

4. Save the Invoice:

After verifying the details, press Enter to save.

2. Benefits of Using Duties & Taxes Ledger for Rounding Off in TallyPrime

1. Accurate Financial Statements: Helps ensure that all ledger values round to the nearest desired amount without impacting primary invoice totals.
2. Streamlined Rounding Process: Automatically rounds off values as part of standard transaction entry.
3. Flexible Rounding Control: Customizable rounding limits allow you to control the precision for each transaction.

Using this method in TallyPrime allows for streamlined and accurate ledger rounding, ensuring that minor discrepancies due to rounding are managed efficiently while maintaining transaction accuracy.