Display balance definitions and round balances in Engagement Manager
The Balance Definitions screen displays the journal entry types that Engagement Manager includes in the calculation of each balance type. Engagement Manager always includes the unadjusted balance amount plus the specified journal entry types for each balance definition.
Follow these steps to display the balance definitions and to round current period balances to the nearest dollar.
note
When you choose to round a balance type, the rounded balance is reflected in all other areas of Engagement Manager.
You must assign Account Classification codes to the accounts to have account types so the balances will round correctly.
When you roll forward an engagement with rounded balances, Engagement Manager rounds the prior-period balances in the new engagement.
For a divisional client, you can round at the entity level or by division.
For a fund client, you can't round at the fund level.
Open the engagement and select the
Trial Balance
tab.
Select
View
, then
Balance Definitions
.
Tick the checkbox in the
Round
column for each balance type that you want to round.
Select the rounding accounts for the following:
Asset
Equity or Liability
Income Statement
Select
Save
.
To ensure that the latest balances are rounded, select