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

    Rounded VAT

    legobeast

      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
          Johan Hedman

          What is your Calculation like?

           

          Maybe you have wrong settings in procent of VAT.

          • 2. Re: Rounded VAT
            Menno

            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.