Easify Forums

Re: Error calculating VAT?

Do you have many small valued items on the purchase order?

Re: Error calculating VAT?

Hi Richard

Thanks for reply.

There are 29 different products on the order I am looking at (approx 50 items in all).

Items are priced from £1.00 to £24.60.

Hope this helps.

Thank you.

Jim

Re: Error calculating VAT?

Hi Jim,

This sounds like a small value VAT rounding error which is a fact of life when dealing with multiples of small value items. Because we calculate the VAT to be the same for each item, you may get a slight discrepancy when compared with calculating the VAT on the total amount.

Similarly you will often find that your suppliers invoices have different totals depending on how they calculate/round VAT.

To get around this (and so that you can also match your PO value to the paperwork your suppliers give you, irrespective of whether they have any VAT rounding errors), you can over-write the VAT value on a purchase to make any VAT rounding adjustments you need.

HTH

Re: Error calculating VAT?

Thanks for the reply Richard

That makes sense. Not sure if I should raise a separate subject for this....

On the other issue of VAT. When VAT is amended to match a Supplier purchase order, the amended VAT amount does not seem to be transferred to the main VAT column in cashbook - the amended figure does seem to be correctly transferred to the expanded VAT columns (e.g. 20% column). It appears possible to amend the figure in the 20% VAT column but notthe figure in the main VAT column itself.

Any advice would be much appreciated.

Thank you.

Jim

Re: Error calculating VAT?

You're welcome Jim.

I will ask Alison to have a look at your question on the cashbook when she's back in the office tomorrow - that one is more her area of expertise  

Re: Error calculating VAT?

Hi Jim, I've run a few scenarios and the cashbook seems to be performing as expected.

If I raise a purchase and then adjust the VAT value (i.e. the adjusted value shows green) this adjusted value then shows in the cashbook. I've also expanded the cashbook to show all the VAT columns and exported the cashbook data and all appears to be ok, so I'm a bit baffled as to what could be causing the issue...

What version of Easify are you running? (The version is shown the bottom left hand corner of the main Easify window).

Many thanks, Alison

Re: Error calculating VAT?

Hi Alison

Thanks for your reply - sorry for delay in getting back to you.

The version I am using is 3.64.0.0 - which I believe is the most recent version.

Most of the time where I adjust the VAT figure to match the purchase order the amount is correctly stated in the expanded VAT columns but not the main VAT column itself. With no way that I can see to adjust the main VAT amount (It appears that I can adjust the amount in expanded VAT column).

Also just in case it is relevant....

I have also had an issue on this recent purchase order, when trying to make payment, the amount on the purchase order (although correctly matching purchase order total) £263.10 does not match the amount outstanding £263.14 (there is a difference of 4 pence (0.04).When paying the correct amount of 263.10 this then shows as an amount outanding in reports (who you owe money).

Puzzled!!!

Any advice is much appreciated.

Thank you

Jim

Re: Error calculating VAT?

Hi jclbh,

We have run some scenarios in the lab and cannot find any issue.

In order to thoroughly investigate the areas you are highlighting, could you email us a backup of your database?

Here is a guide on how to do this.