GST rounding

I've paid an invoice that has a total of $704.00. I've entered into Reckon, broken down as it is on the invoice, but the GST in the invoice from the provider is $0.01 lower than the GST calculated in Reckon: Invoice is $60.61 and Reckon is $60.62.

Is this a Reckon issue? Does Reckon always round up? There are 4 lines on the invoice - 3 of them NCG and one of them NCF.

Not sure if that makes any difference.

Accepted answers

Zappy

The bill should be entered GST Inc

Kris_Williams

Good to hear @Jo_HFV, glad you’re sorted

Acctd4

@Jo_HFV You can definitely do either 😁

Sometimes you may have a bill/receipt that shows only “gross inc GST” & sometimes you’ll have ones with a full breakdown, so I tick/untick the Amts inc Tax as required 😁

All comments

Zappy

The bill should be entered GST Inc

Kris_Williams

I would ignore it. …….

Acctd4

I have my Preferences set to enable tax editing so in that situation, I just edit the GST amount accordingly 😊

(NOTE: I do NOT do this for mixed tax codes ! These should always be entered - as you’ve done - via multiple lines with the correct tax code. The option for editing GST is intended for rounding purposes like this, only)

Jo_HFV

Thanks everyone. I changed it to Amount s include tax (was taught I could do either) and it has worked! It reconciles now!

Kris_Williams

Good to hear @Jo_HFV, glad you’re sorted

Acctd4

@Jo_HFV You can definitely do either 😁

Sometimes you may have a bill/receipt that shows only “gross inc GST” & sometimes you’ll have ones with a full breakdown, so I tick/untick the Amts inc Tax as required 😁

Zappy

@Acctd4

Yeah that's great

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