Managing rounding differences

[Maf. King]

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.
>
> Des

Hi Des,

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 

HTH,
Maf.