2 Replies Latest reply on Apr 7, 2017 4:28 AM by Menno

# Rounded VAT

Dear All,

The rounded VAT by 2 decimal places actually rounds up wrongly how can this be changed or how can rounded VAT be removed.

Say you have a product which costs £34.92 the VAT should be £7 but comes up with £5.95.

• ###### 1. Re: Rounded VAT

Maybe you have wrong settings in procent of VAT.

• ###### 2. Re: Rounded VAT

You haven't shown us the calculation that you use. I use 2 calculations for calculating the VAT. The first calculates the VAT from the total amount and the second calculates the VAT over the amount:

Let ( [

amt = 34.92 ; // Your example-amount

perc = 20.5    // The VAT percentage I suspect you used

] ;

List (

Round ( amt - amt/(1+perc/100) ; 2 ) ; // calculates the VAT FROM the total amount

Round ( amt * perc/100 ; 2 ) )              // calculates the VAT OVER the amount to be added

)

The answer from this particular example will be:

5.94

7.16

I suppose that your calculation is similar to the first one.