In Workpapers GST rounding is causing workpapers to show as unbalanced

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KellyDuffy
6 Posts
Cover User
New Zealand

In Workpapers GST rounding is causing workpapers to show as unbalanced

Hi

If we use the Gross Amount in Workpapers and let the workpaper calculate the GST it shows correctly for each line but the total is frequently out by a few cents. This then means the total doesn't match the account balance and the workpaper gets red flag.

 

Each line rounds to 2 decimal places but the workpaper GST and net totals are calculated from the total in the gross amount. Can workpapers please be changed so the totals are the sum of the column above instead?

 

A screenshot of an expense workpaper which is out by 1 cent is attached.

Workpaper out by 1 cent.JPG
1 REPLY
MYOB Product Manager DonHounsell
5 Posts
MYOB Product Manager
New Zealand

Re: In Workpapers GST rounding is causing workpapers to show as unbalanced

Hi Kelly

 

From the screen shot, it looks like you are using te Generic Expense template for ACC.

I have checked the calculations on this template, and it does actually sum the column, so the issue must be slightly different - maybe that it is summing the non-rounded values for each amount rather than the rounded values.  We will need to investigate that further, but I agree that, at face value, it doesn't appear correct.

 

One workaround may be to add another row entitled "immaterial rounding adjustment" and put in the amount necessary to make the workpaper balance.  We are using this technique with other workpapers where rounding differences are inherent in the calculation.  It has the benefit of making the amount of any minor discrepancy obvious to the reviewer who can then decide whether the adjustment is in fact immaterial.

 

Don Hounsell
Senior Product Manager
MYOB
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