Bills - Rounding up

account1982

Today I noticed a small bug which might need a looking at:

I have a bill for 9.99, Price is 8.325 * 1.2 (20% vat) = 9.99. This is correct!

However, when adding a payment it rounds it up to 10. If I change this amount to 9.99 it is advising me afterwards that 0.01 is due. If I make a payment for 10 then in the bills section is telling me -0.01.

https://prnt.sc/k58yf6
https://prnt.sc/k58z75
https://prnt.sc/k58zpn

A solution would be welcome.

Thanks,
Z

account1982

@Alexia , is there something you can look into?
Thanks,
Z

account1982

The same issue I am having with following: https://prnt.sc/k5z2ez

The product is 17.125 plus 20% VAT, which should be 20.55USD, but gives me 20.56. Even if I tinker with the numbers, I can not get 20.55. Can you please check?

Thanks,
Z

Alexia

Hi, @account1982.

There's a known issue with bills not rounding correctly when a line item has more than 2 decimals. The payment amount is accurate to what the total should be. He's a breakdown of the math.

The formula looks like this:

(Price of the item, rounded to the second decimal)+[(Price of the item X tax)rounded to the second decimal] = Total

First example

8.33 + (8.325 X 0.2) = Total
8.33 + 1.67 = 10

Second example

17.125 + (17.125 x 0.2) = Total
17.13 + 3.43 = 20.56

With that said, there absolutely is an issue with rounding. We're working on a solution right now, but I don't have a timeline as to when it'll be resolved. The most important thing here is that the expenses recorded end up matching with the expense on your bank account. If it doesn't, simply add a line item called "Rounding adjustment" to your bill for the amount of the discrepancy.

You might also have more luck simply entering those expenses on the Transactions page, instead of using the Bills page. You'll be able to put in the total of the expense first and have Wave calculate the tax backwards, which will get around all of these rounding issues.

account1982

Awesome. Good to know that is being worked on. In the meantime will be using your above suggestions, which are very helpful. Thank you and keep up to good work

Narelle_73

Is this issue still being worked on. My Bills show the correct amounts but the actual bills owing in the dashboard and expense in the P&L is less in cents so over an entire year that erodes my claimable expenses and increases my taxable profit. This is literally the only thing that will make me look for another accounting platform. Is it possible to change the bills settings to tax inclusive for input.