Invoice total not correct when quantity of an item is more than one

Legacy KB ID: 3792

Question

Why can’t Reckon Accounts Personal calculate the correct total on an Invoice when I have a quantity greater than one on an item I enter with a gross price?

Answer

When you enter a gross price for the item and then add a tax code, the amount you entered changes to a net price.  Reckon Accounts Persona will round the net price to 2 decimal places.  When you change the quantity, the rounded net and tax amounts are multiplied separately then added together to obtain the total for the invoice.  Multiple quantities will exacerbate rounding differences.

 

Workaround

When you setup the item, enter the gross price for the Rate and leave Amts Include Tax unticked

Follow this sequence for entering the item on the invoice:

1.    Select the item – Quantity of 1, the Rate and the Amount will fill automatically

2.    Change the Quantity – eg, change 1 to 2 – the Amount will change

3.    Add the Tax Code

4.    Check the total – it will be correct.

By changing the quantity before adding the tax code will have Reckon Accounts Persona calculate the tax on the adjusted Amount and so avoid rounding issues. 

Need more help?

Ask the Reckon Community at: https://community.reckon.com/

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