Invoice Received with incorrect GST
I have received an invoice that has the incorrect GST. Purchase Amount 1,050.31, GST 105.04
I did try and resolve this last year to no effect (this is an annual renewal and it has been repeated this year). As it is not substantial but annoying, can you please advise the best course of action.
As far as I can see I can either have the correct total 1155.34 as MYOB calculates and overpay 0.01 resulting in a debit with nothing to apply it towards or I have to record an incorrect amount - which will have a flow on effect in the BAS report. I have noticed a number of companies with this tiny error. Am I missing something here?
Hi Bob99
Thanks for your post. Those rounding differences are the caused by how the supplier's software handles rounding and how many decimal places are used for items. If you want to enter the purchase tax exclusive you can manually changed the GST amount by clicking on the Tax zoom arrow and manually changing that value. This will ensure the values on the supplier invoice match what you record:
When it comes to your BAS, you don't report cent amounts, all BAS fields are rounded to the nearest dollar. This means that you'd have to record a lot of invoices with cent differences to have a significant impact on your BAS.
If you are concerned about these rounding differences I would recommend speaking to your accountant.
Please let me know if you need further help.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
