Rounding Off Invoices & Bills upon the save action automatically.

Proposal summary

The total amount of  invoice/bill will be updated with the rounding amount. The Rounding  amount will be added or deducted based on the total amount.

Requirement 

Is there a way we can round the amount automatically in NetSuite to the closest INR? 

This would need to be applied to bills and invoices. By default there were no other ways to round off the amount  to the nearest INR for Bills and Invoice. We only have the decimal precision for currency and tax rounding precision. We need to check if there are any workarounds for achieving this. Would you like to adjust the invoice/bill amount in the record itself with this rounding to the nearest INR?

For example

Would like to adjust this without affecting the item line values?

The goal is to round to the nearest INR so this would only apply to decimals. If the invoice amount is 122.30INR it should be rounded to 122INR. If the invoice amount is already 129 INR, there’s no rounding necessary.

The issue raised by our team is that most often, we don’t pay or require the vendors to pay us the decimal amounts. For example, we would only receive 122INR out of the 122.30INR invoice that was raised. 

Therefore, we need a way to round it in the system so that when we receive the money, the invoice/bill shows as closed. As of now, the invoice/bill would remain open as the system is waiting for the exact amount of decimals included.

Our Solution

We will be creating a discount item in the account. And this discount item will be selected in the invoice/bill at the body level. So whenever the invoice/bill creates/saves the total amount will be rounded to the nearest decimal using script automatically.

While creating the discount user can select the account. So the adjusting amount will be reflected to the selected account in the discount item. The subsidiary selected will be indian. So this customization is intended for the indian subsidiary transactions only.

In the order we will select the newly created discount item and the rate will be updated with the rounding amount.

If the amount is 12.36 it will be rounded off to 12.00

If the amount is 12.50 or greater it will be rounded off to 13.00

If the amount is 12.84 it will be rounded off to 13.00

Case 1: The amount 12.36 reduces to 12.00

Case 2: The amount 12.76 reduces to 13.00

Assumptions:

• We would like to know the contexts in which the invoice /bill is created as of now.
• The discount and the markup will be applied only to the indian subsidiary transactions.

• If the amount is 12.50 or greater, then we will be rounding to 13.00.
• The amount will be updated on creation and edit of  invoice /bill in its open stTU.

Risks 

• SO amount , PO amount will be different from Invoice and bill amount respectively since, we are rounding the amounts. So the reports should be taken based on the posting transactions. 
• We can update the amount of invoice and bill unless it is in the open period.