In some currencies, the smallest coins do not exist. For example, in Switzerland, there is no coin for 0.01 CHF. For this reason, if invoices are paid in cash, you have to round their total amount to the smallest coin that exist in the currency. For the CHF, the smallest coin is 0.05 CHF.
There are two strategies for the rounding:
- Add a line on the invoice for the rounding
- Add the rounding in the tax amount
Both strategies are applicable in Odoo.
First, you have to activate the feature. For this, go in Accounting ‣ Configuration ‣ Settings and activate the Cash Rounding.
There is a new menu to manage cash rounding in Accounting ‣ Configuration ‣ Management ‣ Cash rounding.
Now, you can create cash rounding. You can choose between two rounding strategies:
- Add a rounding line: if a rounding is necessary, Odoo will add a line on your customer invoice to take this rounding into account. You also have to define the account in which the rounding will go.
- Modify tax amount: Odoo will add the rounding to the amount of the highest tax.
Once your rounding are created, you can apply them on customer invoices. On the customer invoices, there is a new field called Cash Rounding Method where you can simply choose one of the rounding methods created previously. If needed, a rounding will be applied to the invoice.