GnuCash doesn't handle fractional cents properly with tax tables

[Mike or Penny Novack]

On 3/9/2017 2:36 AM, Liz wrote:

>
> Similar for Australia.
> We have to do an annual return, but are not permitted to remit the
> exact cents, and we round to the nearest dollar, using normal rounding
> rules.
>
> Liz
I don't think THIS was what was being asked (what amount gets sent to 
the government for the TOTAL of sales tax/VAT each quarter, or whatever.

I thought the question was on the amount to be charged the customer on 
the invoice. And I did say "look to the rules for your jurisdiction". 
However I will stand by what I said for states and local jurisdictions 
in the US.

Here is an example. Suppose the state charges a sales tax of 5%. In 
every state where I have paid sales tax is would ACTUALLY be 0.01 for 
every 0.20. In other words, if you bought something for 1.21 the sales 
tax would be 0.07 and that amount collected (from the customer) would be 
added to the total sales tax liability to the state << which might well 
want rounding to the whole dollar but that would be on the TOTAL for the 
quarter, not rounding of the individual amounts making up that total.

Michael D Novack