How to fix the penny rounding difference in Bank Reconciliation?

To fix the  penny rounding difference in Bank Reconciliation, follow the below steps:

Step 1:- Upload the bank statement.

  • Navigate to Upload Bank Statement Module.
  • Choose the Bank Account in which you want to upload the Statement.

  • Download the Template.


  • Add the required Penny rounding amount.

NOTE- Negative amount for payments and positive amount for deposits.

  • Browse the upload file and upload the same.


Step 2:- Create Journal Entry.

  • For creating a JE for payments, use: Debit the Penny Rounding (Expense A/c) and credit the Bank A/c.

Step 3:- Navigate back to Reconcile Bank Account module and Refresh the Results.


  • Match and Reconcile the transactions.


  • Now you can finish the Reconciliation for the same period.


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