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Tax Rounding - Printable Version

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Tax Rounding - VortecCPI - 02-08-2018 06:55 AM

In some applications tax is rounded up to the nearest penny(USD) and in applications tax is rounded down to the nearest penny(USD).

Our online payment application rounds it up to the nearest penny but webERP does not so it causes issues for us and I had to make some changes.

It would be nice if this was a setting in webERP.

Does anybody else have this issue?


RE: Tax Rounding - falkoner - 02-08-2018 09:02 PM

Within the EU the rules are that if the VAT on any transaction comes to less than 0.5 of one penny, it should be rounded down and if the VAT comes to 0.5 of one penny or more, it should be rounded up. Though my experience is that they don't really care as long as you are consistent, especially if you are B2B supplier. Is this different in the US?

Tim


RE: Tax Rounding - VortecCPI - 02-08-2018 10:01 PM

In the USA it is the seller's discretion so some apps round up and some apps round down. PyaPal, for example, rounds up and when I say round I really mean increment so $221.144 becomes $221.15.

VERY confusing!


RE: Tax Rounding - falkoner - 02-08-2018 10:58 PM

Ok, I suppose a flag in either the tax authorities screen, or in the rates screen would be best. Am not sure how hard it will be to change each place the tax is calculated without first checking the code but I suspect it would not be too hard.

Tim


RE: Tax Rounding - VortecCPI - 02-08-2018 11:32 PM

I think we may want to survey our users before we go through any work.

Since I seem to be the only one who has encountered an issue it may not be worth all the effort.

All I did was ad 0.004999 to the displayed tax value (not the actual tax value) on the PDF reports. This rounds up when formatting to two decimal places.

I am very wary of changing how webERP handles tax values internally so I did not want to fool with it, hence only changing what is displayed.

Now Sales Confirmations (Quotations) and Invoices match those coming from PayPal and SuiteCRM.