Good morning,
I have noticed that the automatic calculation of VAT can produce an error (usually a small amount) e.g. on an order amount of £370.22 net 20% VAT system calculates VAT as £73.97 rather than £74.04. I do not understand why there should be a difference.
Any advice would be much appreciated.
Thank you.
Kind regards,
Julia
SKU Description Qty Price Ea VAT Total
1082 XXX 7 £8.96 20.00% £62.72
1043 XXX 1 £18.20 20.00% £18.20
1516 XXX 20 £2.16 20.00% £43.20
1517 XXX 20 £3.24 20.00% £64.80
1518 XXX 30 £3.46 20.00% £103.80
1127 XXX 1 £24.00 20.00% £24.00
1079 XXX 10 £5.35 20.00% £53.50
Net £370.22
VAT £73.97
Total £444.19
This is a known issue with VAT calculations (small value VAT rounding) which occurs on certain price values where the VAT ends up getting rounded to many decimal places.
With Easify we calculate the VAT per item on an order so that the VAT amount is correct for each item at the point of sale.
This is only usually a problem for small value items with certain values where you have a large quantity of them.
Regards - Richard (Easify Developer)
