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KnKbutterfly
Level 1

Quickbooks rounds up sales tax even when it there are zeros

I know that quickbooks always rounds up in regards to sales tax but why does it round up when there are zeros and it shouldn't round up.

 

Example  375.00 with a sales tax of 8.8% should be 33.00 but QuickBooks rounds it up to 33.01

 

This even happens when my invoices are imported from another system into QuickBooks.  QB overrides the sales tax (which is correct in my invoicing system) and rounds up

3 Comments 3
BigRedConsulting
Community Champion

Quickbooks rounds up sales tax even when it there are zeros

Are you using an individual sales tax item or a sales tax group that contains two or more items?

 

If the latter, the tax rate for each is calculated individually and each saved to the nearest cent. If this is the case, when you do the math per item, rounding each item and then adding up the results, then does it make sense?

KnKbutterfly
Level 1

Quickbooks rounds up sales tax even when it there are zeros

I use sales groups but in this example there is a single item on the invoice (to keep things simple) 

i.e.  Monthly maintenance $375.00

       Sales tax   8.8%             33.00

          Invoice total               408.00

 

 

But when created in QB  it comes to 408.01   My invoices in my invoicing system are correct but when they import into QB, the extra penny is added.  

 

It is not an issue with what to pay to the state, it's a matter of getting my invoicing system and QB in sync and prevent year end clean up because of a programing error can't preform basic math

 

 

KnKbutterfly
Level 1

Quickbooks rounds up sales tax even when it there are zeros

I figured a work around by using making the sales tax item 8.8% and not using Sales Tax Groups.  This corrects the rounding issue but I am still waiting to see what it will do to my Sales tax Liability report

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