How do I remove rounding up to third decimal point in quickbooks

colin88 · ‎May 03, 2022

Do companies still use the third digit after the decimal point and round up to next penny?

I can't find an option to remove it or should I go back to the company who paid us?

Tried to produce a sales invoice and it is out by 1p, Our contractor has already paid us, and quickbooks is rounding it up. e.g figure for VAT is 383.048 and quickbooks is rounding it up to £393.05, so therefore we are out by 1p so can't match banked amount and produce an invoice for same amount.

Not sure what the solution is as I don't want future problems when I pay the VAT in a few months.

Learner and newbie to quickbooks (UK)

GlinetteC · ‎May 03, 2022

Hello there, colin88.

The option to remove the rounding off up of three decimal places is unavailable in QuickBooks Online.

I've got some steps on how you can handle the difference to match them and fix the amount. You can use the Resolve difference feature in QBO. Let me walk you through how to perform the task:

Go to the Banking menu, and then choose the For Review tab.
Find the said transactions, and then select the Find match button to open the Match transactions window.
Look for and select the invoice payments to match. You can also use the filters to narrow down your search.
Scroll to the bottom of the table, then click the Resolve Difference button.
Make sure the total is zero.
Click Save.

I'm adding this article and bookmark it for future use. It contains information about reconciling your account: Reconcile an account in QuickBooks Online.

You can get back to me anytime if you have questions about handling your transactions. I'm still around to help you.

View solution in original post

GlinetteC · ‎May 03, 2022

Hello there, colin88.

The option to remove the rounding off up of three decimal places is unavailable in QuickBooks Online.

I've got some steps on how you can handle the difference to match them and fix the amount. You can use the Resolve difference feature in QBO. Let me walk you through how to perform the task:

Go to the Banking menu, and then choose the For Review tab.
Find the said transactions, and then select the Find match button to open the Match transactions window.
Look for and select the invoice payments to match. You can also use the filters to narrow down your search.
Scroll to the bottom of the table, then click the Resolve Difference button.
Make sure the total is zero.
Click Save.

I'm adding this article and bookmark it for future use. It contains information about reconciling your account: Reconcile an account in QuickBooks Online.

You can get back to me anytime if you have questions about handling your transactions. I'm still around to help you.

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