Yes, but there is a caveat.
Some customers like to have uniformity when entering time, so data in reports is easier to digest. Intervals provides a feature for rounding up time when it is being entered. This is most useful when using timers, because timers can stop at odd times. To allow for consistent time entries, Intervals provides a default setting that specifies the increment to round up to.
The caveat is, Intervals does not automatically round up time that is entered…it is up to the users entering time, to hit the ‘Round Up’ link in the ‘Add Time’ dialog.