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Status Unlikely to be implemented
Workspace Reckon Accounts Business
Categories Desktop & Hosted
Created by Guest
Created on Aug 3, 2021

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Display 2 decimal places on invoices/statements

Our invoices show a rate which display 5 decimal places - this is the GST exclusive figure. The GST inclusive figure is $17 which is the rate we advertise at. It's fine to have the GST exclusive figure visible, of course. but to reduce confusion by our customers, having 2 decimal places only displaying when you print or email an invoice or statement would be very helpful.

  • ADMIN RESPONSE
    Aug 4, 2021

    Hi Eddie,

    Whilst we understand what you are trying to achieve, it isn't what the software is expecting so it wont be possible for us to round unfortunately. It will also likley cause a rounding error when your customers calculate the invoice manually, or most definitely if they are a business and enter this into their software, leading them to question your calculations (we have seen this many times in our support queues).

    For example: if we round the unit price to 15.45 and the customer buys 100 units, they would expect the total to be $1,545 + 154.50 tax = 1,699.50; if a business, their software will make this exact calculation. However, you are expecting $1,700, and indeed your invoice will say $1,700.


    Best practice

    If you sell for $17 including tax, the invoice is expecting the gross amount to be entered, and the invoice ticked "amounts include tax". You can then change the column header to reflect this. eg "Rate incl tax". Your customers software, like Reckon, can calculate the tax correctly. The total tax will also show in the footer of the invoice of course. This is similar to what you would see on a receipt from Coles.

    However, if you are wanting to show the NET RATE but still achieve $17 gross, you need to change the item price to calculate from net. ie in your item list, the net should be (excl tax) $15.45. Again, due to rounding, this will lead to a slight price drop with large quantities.

    I hope this all makes sense in terms of why we cannot allow this, as the software is designed to only round on gross so the calculations all work (for you and the receiver).

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