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Hi all,
We have received a question regarding rounding of VAT amounts.
How is it done in IFS applications?
And is this done in the standard / customizations?
• Round VAT amount (TX line) downwards if rounding of öre<0.5
For example, 1.2 is rounded to 1.0?
• VAT amount (TX line) is rounded up if rounding of öre> 0.5
For example, 1.7 is rounded to 2.0?
• The VAT amount is rounded up if the rounding is 0.5
For example, 1.5 is rounded to 2.0?
and 2.5 is rounded to 3.0 ???
Hi Amalith,
Roundings are defined in Tax Templates in Field Control , example :
If it is System defined template you cannot change. You can copy the template to new one , change and use new Template in Tax Reporting.
Regards,
Pawel
Clarifying what Paweł said: tax rounding in IFS is applied to tax report, i.e. when tax is reported to authorities - on global figures. On each individual transaction (i.e. invoice) tax amounts are calculated following generic currency decimals setting, i.e. usually with 2 decimals.
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