Request: Autocalc of Unit Price in Expense Claims

This is a low priority request.

When you enter line items on an Expense Claim, it would be nice if the user could enter the Quantity and Amount for a line item and the software automatically calculates Unit Price.

As it stand now you have to enter Qty and Unit Price and Amount calculates. My unit prices go out 10+ decimal places and I wish I didn’t have to calculate unit prices first before I enter an expense claim.

Why do you need to calculate unit price for an expense claim at all? The claim is for reimbursement of money spent by someone on behalf of the company. It is meant mostly for things like travel expenses. An employee puts 500.00 for an airplane ticket on their personal credit card and submits a claim for reimbursement. Or an owner buys 54.32 worth of office supplies from personal funds. All you have to put in the Unit Price field is the total amount of the payment. You don’t even need to use the Quantity field.

What is your use case that has 10+ decimal places?

Because my business is so new and I’m the only employee, I don’t have a
separate banking account for the business so everything is actually
purchased by me. Including inventory items.

Should I be using Purchase Invoices instead? And how would that work if I
am the supplier? It’s a new year so I want to start doing things the
correct way.

No, you should use expense claims for purchases you make on behalf of the company from personal funds. But you didn’t answer my question about why you need 10+ decimal places.

Need more information. What are you “buying” from yourself?

I need 10+ decimal places for unit cost because if the total is $7.00 I want it to be $7.00, not $6.9955784. My inventory items are square inches of vinyl.

If I use Purchase Invoices with myself as the Supplier, I am buying inventory from myself, or I use expense claims. Just not sure what the right approach is.

Why are you buying inventory from yourself - are you running two businesses ?
If you do have two businesses, then the first business would issue a Sales Invoice which becomes a Purchase Invoice in the second business.

But if you are running one business where is the inventory coming from which you are selling to yourself.

If your inventory is sq in. and you enter whole numbers per sq in for qty and unit price, where are the decimals coming from. What total is $7, sales or purchase value.

Sorry, I wasn’t very clear.

I am running one business. I purchase the item from a supplier but I use my personal funds. Therefore, I am using expense claims.

For example, I just bought 1,440 square inches of vinyl for $8.49. So, the unit price is 0.00589583333333333. If I round it, the total won’t equal $8.49.

What would be ideal is if I could enter quantity and total, and then it will calculate unit price. Or better yet, I enter quantity and unit price OR total and the software would calculate the missing piece automatically.

It’s certainly not a priority, just a suggestion.

You could enter as few decimal places as you wanted and if the calculations is out by a few cents then you could add a line and put the rounding to a specific or general account of your choice.

This maybe less time consuming.

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Here’s my question, @queenbean84:

Are you actually selling vinyl by the square inch to customers? In other words, does a customer come into your shop or visit your web site and buy a few square inches of vinyl? Or do you make a product with a few square inches of vinyl in it and sell the customer the product? If the latter, why not just expense the vinyl as a miscellaneous supply? If your examples are representative of the amounts and values of typical purchases over the course of a year, it isn’t worth your trouble to keep track of the vinyl in an inventory system. It would be like a carpenter trying to account for individual nails.

Accounting standards and practices vary, but in most jurisdictions, if something will be used up within the time frame of a typical accounting period, and isn’t sold explicitly to customers, there is no expectation that you will treat it as inventory. The cost will be deductible as an expense.