On Wednesday, 23 May 2018 02:11:26 BST Matthew Pounsett wrote: > I've got an off-by-a-cent error on an invoice due to the way taxes are > calculated. GnuCash (2.6.21) is calculating the tax on each individual > taxable item, then summing that up, and adding that value to the subtotal. > This causes an error because each individual tax calculation is rounded > prior to subtotalling. > > Given a tax rate of 13%, GnuCash is doing this: > > Item Tax > 277.50 36.08 > 92.50 12.03 > Subtotal: 370.00 + 48.11 = 418.11 > > When the real calculation should be: > > Item Tax > 277.50 36.075 > 92.50 12.025 > Subtotal: 370.00 + 48.100 = 418.10 >
Hi Matt, I take the view that if the supplied invoice specifies a VAT total, then that is what my GC numbers should reflect. If that needs a correction line on a GC vendor bill by a penny or two then so be it. If there is not a VAT total specified, then on the very odd occasion that GC rounding comes into play I usually round the VAT charged up to the whole penny, on the precedent that on the Income tax return HMRC let you round expenses up to the next whole pound. I doubt that an inspection by HMRC would be overly concerned by the odd penny rounding here & there. Of course, I'm in the UK so YMMV... I have no idea about v3 yet - not going to upgrade until I've sorted out all my year end stuff in the next few weeks... 0.02 Maf. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
