GST Rounding in Customer Invoices

Carol Wooley

Hi there

Is there any way of adjusting the TAX AMOUNT (GST) when preparing Customer Invoices as having problems with customer paying different amounts on their total invoice as their system works gst on the "net" value but RECKON seems to round the GST up...so always out by 1c/2c etc...

Thanks

Carol Wooley

Customer puts in the "net" amount and their system calculates the 10% gst so their figures are actually correct. What happens I find is am creating invoices on a line by line/item on an invoice, GST is calculated by line items so it actually rounds all the GST up to the nearest cents so then when the total GST is shown at the bottom of the invoice, sometimes it can be 0.01c/0.02c difference...so want to know if there is a way of 'overriding' the automatic calculations on "line by line" item on an invoice so that arrive at the right "Total" GST Amount.

Carol Wooley

OR @Zappy - do you mean that legislation says GST is to be rounded up to the nearest cents?

Kris_Williams

I used to have this problem in early versions of Quickbooks, all I did was put an additional line with no GST and the amount required to adjust total

Acctd4

@Carol Wooley Unfortunately - unlike bills/cheques - the GST amount is unable to be edited on sales forms however you can choose to enter your amounts excluding GST (note the checkbox to the bottom left of the window) & go to 5 decimal places in the rate column which can sometimes solve that problem.