Managing rounding differences
maf at chilwell.net
Mon Apr 14 03:27:51 EDT 2008
On Sunday 13 Apr 2008, Des Dougan wrote:
> I've just created a bill from a hardware vendor where the GST calculated
> by GC is a penny greater than in the vendor's invoice. I've searched the
> archive and found a thread from 2005 that discusses this; however, what
> I'm unclear on is where to enter the rounding correction - on the bill
> (and if so, how) or on the AP register (and against the GST Paid
> liability account, I assume?).
> Thanks for any assistance.
I handle this by adding an extra line to the bill in GC - I call it VAT
Rounding, and assign it to the account that the calculated VAT sum goes to
(as per the tax table)
I quite often get a penny either way to correct.
BTW, you shouldn't alter the AP (& AR) registers directly - always use the
[new|unpost->edit->repost] bill route
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