Set Up a Rounding Account for Financial Statements

How Do I...

In General Ledger Defaults, you can set the account that Sage 50 will use when rounding odd amounts on financial statements. This account will temporarily store rounding differences when displaying financial statements. Though not required, set up a rounding account if you want to round financial statements to either whole dollars or whole thousands of dollars.

From the Maintain menu, select Default Information, then General Ledger. Sage 50 displays the Rounding Accounts tab of the General Ledger Defaults window.
Enter or select an account ID that you want Sage 50 to use as its rounding account on company financial statements. To display a list of existing accounts, type ? in the G/L Account ID field, or select the Lookup button.

You can select any account, but it is recommended you select the Retained Earnings account.
When finished, select OK to close the window and save your default settings.

What do you want to do next?

Add an account to an established chart of accounts
Perform other General Ledger procedures
Design financial statements
Read the chart of accounts overview