Balance sheet rounding error
Roshol
Member Posts: 1
Looking at the Balance sheet versus bills and payments, it looks to me that the balance sheet incorrectly rounds amounts. I have mileage costs on invoices which end up with half a cent. On the invoice that is correctly rounded to the next full cent. However, in the balance sheet it is rounded down to the last full cent, now showing that I overpaid each of these invoices.
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Comments
Hey there @Roshol
When it comes to decimal rounding at Wave, this process is completed on a line-item level. What this means is that each product line will calculate the tax, round to 2 decimal places, then do the next product line. At the end, it will add up all the line item tax calculations and plug that in as a total tax in your invoice. Unfortunately, there is no way around that in our software at this time.
As a potential temporary workaround, feel free to add/discount a new invoice or bill item for $0.01 to charge the right amount and mark it as an adjustment entry to match your report.