Re: [SL] Carrect VAT amount

[Roy W P. <arc...@mt...>]

I run into this problem with a few vendors depending on how their software handles rounding.

What I've been doing is:
-Create an additional "AP Transaction" for the vendor invoice in question.
-Enter the same vendor name, invoice number, and enter no value other than an overridden  tax amount.
 Enter either the tax as a positive or negative amount, and make a comment in the notes about why the transaction is being done.

Using the same invoice number groups the two transactions together so that everything shows up correct in the payments screen and in the tax account.
This works for me in my jurisdiction. It may work for you. I'm not an accountant.


NOTE:
What if I accidentally put a value in the non-tax box when I create the transaction ??
Easy....

I have a dummy account in the chart of accounts, called "PUT ME SOMEWHERE" which is numbered 0001.
The account it configured so it will show up in every account dropdown box.
Because the account is the lowest numbered one, SQL-Ledger defaults to it.
This way I quickly check if someone forgot to select the correct account when creating parts or entering transactions.
Simply... if there are ever any transactions in the "Put me somewhere" account.... then somthing is wrong and it can easily be fixed.

Cheers !
Roy

On Wednesday 02 August 2006 2:26 pm, Richard Patterson wrote:
> Kevin Bailey wrote:
> > Hi,
> >
> > If the supplier sends me an invoice for £77.25 they may calculate the 
> > VAT as £13.51.
> >
> > Strictly speaking this is 13.51875 and SL calculates the amount as £13.52.
> >
> > What is the best way to resove this mismatch.
> >
> > Currently I use petty cash to pay the extra 0.01 and so paying the same 
> > amount from the chequing account as the supplier has asked for.