DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Making multiple invoices equal original expense


#1

I am having some rounding issues in $AUD, it is only a minor issue and a matter of a few cents but it is annoying. I have some large expenses which are shared across a 20 person syndicate and the total of charged on invoices is greater than the original expense.


Amounts on invoices and quotes round to zero decimals
#2

If you want the invoice to come to the exact amount, you need to check the box Amounts are tax inclusive and enter all amounts as tax inclusive.

This will guarantee that total on your invoices will equal the original expense.


#3

Amounts are tax inclusive check box is ticked in invoice template and on purchase invoices ???


#4

Maybe it’s something else. Could you please send demo file demonstrating this issue to support@manager.io?


#5

I have reviewed your file.

So the problem is that you put original expense on the invoice and then set quantity as “0.025”

If you try to split expense $1405.00 among 40 people. It will come down to $35.125 per person. The invoice total will be correctly rounded to $35.13 per person so you will end up collecting $35.13 * 20 = $1405.20 (20 cents more).

You can make a journal entry to reduce income by 20 cents and increase some asset account such as “Overpayments due to rounding up” or something like that. Then your P&L income will equal expenses.

Or don’t use “0.025” quantity. Use “1” quantity and charge half of the people $35.12 and the other half one cent more - $35.13.


#6

Thanks for your time. I suspected that the explanation would be as such!

I had thought of journal entry and using a rounding account would be the solution, and will use that approach.

I am using the 0.025 etc as these are each leaseholders % shares of expenses. I am trying to avoid a spreadsheet for calculations and then transposing numbers. Can you suggest any other way around it?