Wrong GST/TAX Calculations.

[Doctorcam]

* Benjamin Carlyle (benjamincarlyle at optusnet.com.au) wrote:
> 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.

The error is in what you're doing in Excel.  You need to divide by 1.1
and use the rounding feature, thus: 

=ROUND(a1/1.1,2)

That rounds to 2 decimals.  

You will get the same result as with Gnucash. 

The same function exists in Quattro Pro,Kspread, and OpenOffice.org,
and probably Gnumeric.  Using them helps avoid the Micro$oft tax.  :-)

Cheers

Cam

-- 
Cam Ellison  Ph.D.  R.Psych. #01417

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