VAT Rounding Issues

This topic contains 8 replies, has 2 voices, and was last updated by  Peter Lloyd 1 month, 2 weeks ago.

  • Author
    Posts
  • #1629

    anthony-fortec
    Participant

    We have just started to notice that we have a bit of an issue with VAT rounding problems on some orders. For example as follows:

    A customer has ordered 22x items at £1.35 each (inc VAT) – totalling £29.70.
    Ex VAT the product price is £1.125

    When Xeroom is posting the transactions to Xero, it is posting them as £1.13 each (ex VAT), totalling £24.86 (ex VAT) and £29.81 inc VAT.

    Is there any way Xeroom can post to Xero using ‘Tax Inclusive’ amounts, or ‘Tax Exclusive’ but use decimal places? We have gone onto Xero and manually corrected the invoice using tax inclusive amounts (i.e. posting 22x items at £1.35 each) which has corrected the invoice to £29.70.

  • #1630

    Peter Lloyd
    Keymaster

    Hi Anthony

    There is a rounding issue that we are aware of that arises and shows in the totals between the way Xero calculates and Woo calculates. We do use 2 decimal places in the posting. We have increased this to 4 in the new version 2.0.5 and also added a rounding ac so that any remaining differences in the totals no matter how samll can be posted to that. We have tested it with 25 items costing £0.0621 each which is similar to your test.

    Please wait for this to be released which should be in the next week or so.

    Pete

  • #1654

    anthony-fortec
    Participant

    Hi Pete, just wondering if you have any news on when to expect the new version? Thanks, Anthony

  • #1656

    Peter Lloyd
    Keymaster

    Hi Anthony – we hit some issues during stress testing which took a while to fix. I hope to release the final version at the end of this week.

    Thanks
    Pete

  • #7672

    anthony-fortec
    Participant

    Hi Pete,

    We have upgraded to the beta of 2.0.5, however we are still seeing the same issue. Please see screenshots below showing where the error comes in:

    Web Screenshot.png
    Xero Screenshot.png

    Any ideas?
    Thanks, Anthony

  • #7676

    Peter Lloyd
    Keymaster

    Hi Anthony

    I can see it is out by 1p on the product. Can you please create a liability account in Xero no 860 and label it “Rounding” as per this http://prntscr.com/m40j0l and try it again and let me know. That is the ac that the rounding corrections get posted to.

    Thanks
    Pete

  • #7677

    anthony-fortec
    Participant

    Hi Pete,
    I have just checked and already have an account on Xero with those exact settings: http://cl.ly/70c39a7ac69b – so doesn’t look like it’s posting the corrections
    Thanks, Anthony

  • #7678

    Peter Lloyd
    Keymaster

    ok – let me check with the developers as they did fix and test rounding issues which should be in that beta.

  • #7679

    Peter Lloyd
    Keymaster

    This was tested and signed off in Nov so should be there. You should have the rounding ac showing like this http://prntscr.com/m40tii

    Please can you PM with a login to your site and an invite to Xero as a standard user so I can investigate it. Please use my personal email [email protected]

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