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Financial Rounding by 000's query

Posted on 2010-11-10
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Last Modified: 2012-05-10
Hi,

I am assisting a client in production of Balance Sheets and P&L's etc.
There are a lot of spreadsheets involved here!

(I am more on the technical end of the data with a good understanding of accounts).

All the figures in the very final accounts that we produce will all be rounded to the nearest thousand.

So, how can we make the accounts balance when we are rounding off in such a big way??

What is the trick here?


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Question by:Patrick O'Dea
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JayConverse earned 500 total points
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You don't, this is a display issue.  The underlying values are always the real numbers, you just display them divided by 1,000.
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by:Patrick O'Dea
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Thanks JayConverse,

 However, see the simple sum below where 100+100+100=301.
Will this not cause a problem?

100,300   displays as 100
100,400   displays as 100
100,400   displays as 100
----------                      -----
301,100                      301
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by:Patrick O'Dea
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ok
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