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Tax Amt rounding off Issue

Hi

One of my client is a Singapore based client and the localization is Singapore

When i raise a PO with GST 7% tax, some line times are not rounding off and i get a tax value diff of .01 etc..

But the same tax code is used for other line items in the same document and its ok.

Can anyone please guide me to solve this issue??

SAP B1 9.0 PL-00

REGARDS

SRIRAM

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5 Answers

  • Posted on May 30, 2013 at 03:30 AM

    Hi Sriram...

    You can make the Tax Amount Rounding by making modification in Tax Formula.....

    1 .For Ex. if you have VAT

    Then VAT_BaseAmt=Total

    VAT_Tax Amt=VAT_BaseAmt*VAT_Rate

    VAT_TaxAmt=Round(VAT_TaxAmt,0)

    2. In the document settings, enable round tax amount in rows.

    This will do rounding for Tax Amt hope helpful 😊

    Regards

    Kennedy

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  • Posted on May 30, 2013 at 03:32 AM

    Hi Sriram...

    SAP Business One Main Menu, choose -- Administration --Setup -- Financials -- Tax -- Tax Engine Configuration -- Tax Formula

    Just edit the tax formula to round off output .

    Then it will automatically sum the row level Tax to a Rounded Value at the Document Level.

    Tax rate decimal places depends upon all other decimal place setup.

    This means you have to increase amount,quantity and all other fields.

    If your tax formula is having quantity*tax rate

    then both have similar number of decimal places.

    By default quantity and other fields have 2 decimal places that was why system allows us to define tax rate up to two decimal places and round off after 2 decimal places...

    Also check with

    Administration > Setup > financial > Currencies > Set the currency to no rounding

    Regards

    Kennedy

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  • Posted on May 30, 2013 at 03:48 AM
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  • Posted on May 30, 2013 at 08:37 AM

    Hi Sriram,

    Do you mean this is what you get ?

    If so, there is nothing wrong with it.

    It is system behavior, When the tax amount falls in the middle (in this case 0.105),

    SBO will alternately round them up and down so that in document total, the Tax amount is correct.

    In my case, it will be 0.21 ($3 * 7%).

    In fact, it is not only when the tax amount falls in the middle.

    SBO always adjusts the line tax amount so that the the Tax amount in Total is correct.

    Regards
    Edy


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  • Posted on May 30, 2013 at 09:14 AM

    Hi Sriram,

    If the final value of tax is correct, then there is no problem in tax rounding.

    Thanks & Regards,

    Nagarajan

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