Accpac Ar/Ap import and Tax Caculation

[Greggpb88]

I am wondering how accpac calculates tax ? Our VAT rate is 14% and if you look at the examples below you will see that both are sort of correct ? per line item and per total ?


IN0001 PriceEx VAT PriceInc
Service 1 55.55 7.78 63.33
Service 2 55.55 7.78 63.33
TOTALS 111.10 15.56 126.66


IN0002 PriceEx VAT PriceInc
Service 1 55.55
Service 2 55.55
TOTALS 111.10 15.54 126.65


I have tried both with accpac and it seem to work with some of them and not with othere ? does it calculate tax differently on ap and ar ?

Kind REgards
Gregg

 

[Jay Converse]

It only calculates them differently if you've set up the tax rates differently.

 

[Greggpb88]

Does anyone know how accpac does it as a standard ? maybe a white paper I could read ?

 

[Jay Converse]

There is no "standard" tax or white paper, every jurisdiction is different. Go to Tax Services and look carefully at your Tax Classes and Tax Rates. Switch between Sales and Purchases, then Items and Customers/Vendors, you'll see the difference.

 

[ettienne]

Also look at tax groups, tax calculation method: either by summary or by detail.

 

[Greggpb88]

Thanks Very much Ettiene that is what I was looking for ..

Does anyone known offhadn if it rounds or truncate fractions of cents ?

 

[ettienne]

Normal rounding, so from .5 is rounded up to 1.

 

[ettienne]

Sorry... bad example.
If you are using 2 decimals then 0.005 is rounded up to 0.01, the rest rounded down.