GST Rounding in Customer Invoices

Carol Wooley
Carol Wooley Member Posts: 17 Reckoner Reckoner
in Accounts Hosted

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

Comments

  • Zappy
    Zappy Accredited Partner Posts: 5,256 Accredited Partner Accredited Partner

    The customer is doing what now? I think you'll find the manner in which Reckon adds the GST is driven by legislation. The customer needs to adapt, not you. Im curious what kind of a system is it they are using?

  • Carol Wooley
    Carol Wooley Member Posts: 17 Reckoner Reckoner

    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
    Carol Wooley Member Posts: 17 Reckoner Reckoner

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

  • Kris_Williams
    Kris_Williams Member Posts: 4,278 Reckon Hall of Famer Reckon Hall of Famer

    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

  • Zappy
    Zappy Accredited Partner Posts: 5,256 Accredited Partner Accredited Partner

    EXCEPT prices as per the GST ACT should be shown as INC not EX. So no.

  • Acctd4
    Acctd4 Accredited Partner Posts: 4,216 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    edited March 2021

    @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.

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  • Zappy
    Zappy Accredited Partner Posts: 5,256 Accredited Partner Accredited Partner

    In version 7 of Reckon Shaz you were able to alter the GST amount. This was changed because the law changed to not allow it. If you enter the amounts as GST inc, hich is what you are paying, then there isn't a problem. In the old days, wholesale companies would use the EX price, they have been forced to adapt. The other software works the same way. @Carol, I mean your supplier is not calculating the GST correctly. This is not an issue.

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