Skip to main content

Get 50% OFF QuickBooks for 3 months*

Buy now
Switch to QuickBooks and 70% off for 3 Months
August 2, 2020
Question

I have a supplier invoice which calculates VAT from £544.52 at £108.90 yet QB calculates it at £108.91.The VAT element is exactly 108.904 and QB has rounded up not down?

  • August 2, 2020
  • 1 reply
  • 0 views
No text available

1 reply

MarsStephanieL
Level 6
August 2, 2020

Hi there, @Jonah2.

 

QuickBooks rounds up to two decimal places and rounds down if the third decimal place is below 0.5. This will only round up if the third decimal place is above 0.5. I'd suggest using an incognito window to check if this is a browser-related issue.

 

If you're able to get the correct amount when using the incognito window, you can go back to the regular browser and clear the cache. If it's still not working you can use another supported browser.

 

Also, I've replicated the detailed you've mentioned above to double check it and this is how it looks like:

 

 

In addition, you can check the 17.5.1 Calculation based on lines of goods or services section about rounding VAT sales as per HRMC: VAT guide (VAT Notice 700).

 

I'll be here if you need further assistance or if you have other questions. Just tag my name in the comment section below. Have a beautiful day ahead.