Settings and activity
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Bonny Amemiya
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21 votesBonny Amemiya
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16 votesBonny Amemiya
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3 votes
An error occurred while saving the comment Bonny Amemiya
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I too am disappointed to find that the tax calculations on invoices are incorrect due to rounding, and as Tim has shared, makes the invoice invalid. Xero's tax calculations must be accurate.
Xero currently calculates the tax on each line item, rounded to 2 decimal places, then sums the tax at the bottom by tax component. If an invoice has multiple line items, this rounding approach results in incorrect total tax amounts.
The best solution is fairly straightforward. Sum the line item values by tax component first, then apply the appropriate tax rate for an accurate tax calculation.
An alternate solution - if Xero must calculate the tax for each line item first, then round the line item tax to at least 4 decimal places, then sum the line taxes by category, rounded to 2 decimal places. The user should at least have the option of rounding tax calculations to 4 decimal places for accuracy.
Accuracy, especially with customer invoices, should be a top priority for Xero.
Bonny Amemiya
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4 votesBonny Amemiya
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17 votesBonny Amemiya
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21 votesBonny Amemiya
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I would like to clarify that the title should be updated to reflect that this is a calculation rounding issue that causes invoices to be incorrect.