Good day
kindly assist with resolving the issue of vat amount being more with 2cents on some of my invoices.
thank you
Please post a screen image of the esit screen of the sales invoice in question
Manager calculates VAT amounts line by line, not on the invoice total so this can give rise to small rounding differences. But calculating it line by line is the correct way to do it
(post deleted by author)
There is no error - if you calculate the VAT on each line and total it, you will find it comes to 15,215.31 exactly
I can’t show that because you did not show the total invoice, nor indeed, the edit screen, which is far more useful for diagnostic purposes than the view screen
But if you take the total amount before tax and calculate tax its gives you 15 215.29.
(post deleted by author)
Where is the problem - the sum of the VAT amounts is correct
| Total | VAT @ 15% |
|---|---|
| 1987.14 | 298.07 |
| 3882.48 | 582.37 |
| 27902.34 | 4185.35 |
| 600.00 | 90.00 |
| 23117.50 | 3467.63 |
| 2791.48 | 418.72 |
| 2997.64 | 449.65 |
| 600.00 | 90.00 |
| 600.00 | 90.00 |
| 23417.50 | 3512.63 |
| 5418.90 | 812.84 |
| 6993.30 | 1049.00 |
| 1127.00 | 169.05 |
| Sum of VAT | 15215.31 |
2 Likes
Did you compare it with a calculation in a spreadsheet?
Be sure to use, per line, the round-function in the spreadsheet.
for example: [=round(a1,2)]
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(post deleted by author)
The picture you send doesn’t tell us if you did use the round-function.
It only shows us figures which have two decimals.
Moreover, there is no calculation of the VAT in this picture.
So, can you provide more info? For instance, the calculation of the VAT amount in this excel sheet.
I calculated the VAT as 15% of the amount and then rounded to 2 decimal places
Not quite sure what more you would like to see - try it yourself. It doesn’t take long to enter 13 figures into Excel and calculate the VAT
Next time please search the forum before starting a new topic as most questions are already answered. Yours has been recently answered (again) in this post.
(post deleted by author)
These two posts summarize your problem:
More specifically, if we compare your method with the calculations provided by @Joe91, we get this:
| Total | VAT @ 15% Not rounded |
VAT @ 15% Rounded |
Rounding Variance |
|---|---|---|---|
| 1987.14 | 298.071 | 298.07 | 0.001 |
| 3882.48 | 582.372 | 582.37 | 0.002 |
| 27902.34 | 4185.351 | 4185.35 | 0.001 |
| 600.00 | 90.00 | 90.00 | - |
| 23117.50 | 3467.625 | 3467.63 | -0.005 |
| 2791.48 | 418.722 | 418.72 | 0.002 |
| 2997.64 | 449.646 | 449.65 | -0.004 |
| 600.00 | 90.00 | 90.00 | - |
| 600.00 | 90.00 | 90.00 | - |
| 23417.50 | 3512.625 | 3512.63 | -0.005 |
| 5418.90 | 812.835 | 812.84 | -0.005 |
| 6993.30 | 1048.995 | 1049.00 | -0.005 |
| 1127.00 | 169.05 | 169.05 | - |
| -------------- | -------------- | -------------- | |
| Sum of VAT | 15215.292 | 15215.31 | -0.018 |
| Sum of VAT rounded | 15215.29 | 15215.31 | -0.02 |
The 2 cent difference is basically the difference between rounding off each line or rounding off the total.
Rounding off each line gives the correct totals from an accounting point of view.
One thing to remember is that each line appearing in the invoice of manager is a General Ledger line, which means that it has to be based on the currency settings. In your case this means that it has to be rounded to 2 decimals.
Good day
I trust that this mail finds you well
Please advise if it’s possible to remove our invoice.
Thank you
You can edit each post that you posted yourself and remove whatever you do not want to share anymore.
i cant seem to get the remove button here, can you please assist me with removing the information.
There is no remove option.
