Tax Reports mismatch when invoice Rounded

[sharpdrivetek]

thank you for your time.

@Brucanna

In creating an invoice’s rounded total, Manager creates an adjusting transaction to a P&L account. Manager can’t reflect that transaction within the tax reports as the adjusting transaction has no relationship to any individual tax report transaction. Also, the rounded invoice’s total, which becomes the Accounts Receivable balance, also has no relationship to any individual tax report transaction.

So to answer your topic’s heading question - the tax reports are not mismatched when the invoice is rounded as both the rounding adjustment and the rounded invoice total are not components of any tax reporting.

this is the only relevant answer i needed from the beginning. so the adjusting transaction is not considered as a part of the invoice in the tax transactions report even though the whole invoice line items were subject to some tax code.

by the way, nowhere on the topic did i mention that i need to round the taxes. and rounding of taxes was an unwanted discussion. hope you understood the same @spandan888

@Brucanna so we are left with the option of going through hundreds of individual invoices at the end of every month for tax filing because Manager cannot report the actual invoice total i had issued?
or are you suggesting we do not use the rounding feature at all so that at the end of the month we do what Manager tells us from the reports?

by the look of things i am sure in the very near future we will be needing a monthly reports feature in Manager. this was suggested almost a year back anyway.

Monthly Reports for Filing Tax Returns

Hello. I do not know whether there is a monthly sales and purchase report already available or to put this topic under suggestions. I am aware there is a Tax Transactions report available. But I would like to know if its possible to generate a report of all sales and purchase invoice for a selected period under the different tax codes. The already available Tax Transactions report is missing an important column - Business Identifier. An auditor needs the business identifier of every supplier…

[Brucanna]

@sharpdrivetek

so the adjusting transaction is not considered as a part of the invoice

That relevant answer was given in the very first line of post #2 and repeated in the opening of post #9:
“Invoices rounding is an “after” tax calculation adjustment so it shouldn’t be included in the tax reports.”

@sharpdrivetek

nowhere on the topic did i mention that i need to round the taxes and rounding of taxes was an unwanted discussion

Correct on both accounts, but unfortunately in post #3 you introduced and quoted section 170 (tax rounding) into the topic and repetitively relied upon section 170 as legal justification for your Invoice rounding. That justification was eventually found to be unwarranted.

@sharpdrivetek

are you suggesting we do not use the rounding feature at all

Yes, especially as the linking of the waybill and the suppliers and customers tax filings needs to be so precise so as to avoid rejection. By not rounding invoices you avoid any misinterpretation.

I will construct an “Ideas” topic with regards to supplier business identifier and tax reporting - glad to have been of assistance.

[sharpdrivetek]

@Brucanna

That relevant answer was given in the very first line of post #2 and repeated in the opening of post #9:

“Invoices rounding is an “after” tax calculation adjustment so it shouldn’t be included in the tax reports.”

yes. but the explanation was clear to me only in your last reply.

@Brucanna

Correct on both accounts, but unfortunately in post #3 you introduced and quoted section 170 (tax rounding) into the topic and repetitively relied upon section 170 as legal justification for your Invoice rounding. That justification was eventually found to be unwarranted.

this was to make it clear that rounding was allowed as per law. to explain a bit more, the invoice rounding is needed in most cases because its the tax rates which usually adds decimal values to an invoice. so rounding the taxes would automatically round the invoice total even if its not mentioned in the law.

@Brucanna

Yes, especially as the linking of the waybill and the suppliers and customers tax filings needs to be so precise so as to avoid rejection. By not rounding invoices you avoid any misinterpretation.

i do not mind taking the long route once a month. but not rounding invoices would create more headache than the headache we currently have when filing monthly tax returns. if not rounded the customer payments, supplier payments would never correct to the rupee. in some cases we would have to write-off the difference in payments.

@Brucanna

I will construct an “Ideas” topic with regards to supplier business identifier and tax reporting - glad to have been of assistance.

thank you. i hope atleast the monthly reports, if implemented, would reflect the exact invoice value documented and not like the tax transactions report. thanks again.