Tax calculations

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TransPost Support
TransPost team member
Posts: 42
Joined: Wed 11 Mar, 2015 9:31 pm

Tax calculations

Post by TransPost Support » Sun 22 Mar, 2015 1:53 pm

For the Classic version of AccountRight, TransPost uses the MYOB ODBC driver which for some transaction types requires the input of both Inc-Tax and Ex-Tax totals and GST. Since most users receive data that just contains a single amount which may be either tax-inclusive or ex-tax, TransPost will check the appropriate tax rate from the AccountRight Tax codes list and calculate any of these fields as long as one Inc-tax or Ex-tax value is supplied.

For Item sales if no value is supplied in the input then the Item Sale Price is retrieved from AccountRight.

For compatibility with AccountRight TransPost calculates GST as follows:
1. The GST is calculated on the first line in a normal way (either 10% of ex-tax amount or 1/11 Inc tax amount
2. The GST is rounded, with the exact 0.5 cent tax is rounded up, but noting the discrepancy
3. On the next and subsequent lines the discrepancy is added back to the GST before rounding

The effect of this is that rounding will not accumulate so the total GST is the same as GST calculated from the total.

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