Rounding the cost to nearest smallest currency

Is it possible to add an item as

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Should that be the default for every item in the invoice?

Is this possible with the php round function (http://php.net/manual/en/function.round.php)?

If not, you can copy the default template and and define a custom function like (http://www.snip2code.com/Snippet/150040/Swedish-rounding-for-money-values) there and apply to any values needed.

It will not be for every item but will have a Grand Total
i.e
Total 10.01
Rounding -0.01
Grand Total 10.00

The formula works accurately.

It will be good to have as an option to turn on or off as such in the system.