Wrong GST/TAX Calculations.

[Benjamin Carlyle]

On Fri, 2004-06-18 at 15:19, Advertisement wrote:
> Also i'm trying to use invoicing feature in Gnucash, I can generate 
> invoices etc.. but I re-write up the Invoice in a Excel sheet because 
> printing invoices in GNUCash is not that really good, GST (TAX) 
> Calculated by GnuCash is different from the GST that I calculate using 
> an Excel spreadsheet using the same values (In excel sheet I multiple 
> the value by .1, so 100 becomes 10).

I don't have excel handy to try this, but I believe that it will store
more significant figures than GNUCash. If you're summing a large number
of "approximate" GST values in excel they may come up with different
results than if you had simply collected the approximate values from
gnucash, which will round them at the cent mark. This might occur if you
have an invoice with a number of entries on it, and if Gnucash is
calculating the GST amount for each entry and adding them together
instead of determining the GST amount of the whole invoice. I don't know
whether this would be considered a bug or correct behaviour for the
accounting of Australian GST. I'm not an accountant.

Are the results you're getting approximately right, or way out? Which
value do you think is correct? Perhaps you aren't using Gnucash
correctly, or have an error in your excel spreadsheet. Take care when
entering gnucash invoices to indicate that the tax rate is 10% and that
the tax is included in the sale value where appropriate.

Benjamin.