Rounding Issues with Importing Sales
Can someone please tell me how to avoid MYOB AccountRight rounding line items incorrectly when importing sales data, in my case Service Sales, but judging from the forums, the issue occurs in other t...
Forum Discussion
Hi ELC-Leo , when importing sales, AccountRight takes the net amount and calculates its own GST for the line. However, it also accumulates the net and GST on every line, and adjusts the GST as it goes to ensure that the cumulative total net plus GST (calculated on that total) gives the total inclusive.
It is impossible to replicate this process outside MYOB, or to provide figures which will give the wanted inclusive line amounts, since only the net amount is used during the import.
I've prepared an analysis showing how the inclusive figures on your invoice are arrived at.
Note that the GST-inclusive setting is only for display purposes.
Thanks for the comprehenisve reply, Mike_James
I'll cut my losses and accept that it is not possible to use the import fucntion to speed up our sales entry process in MYOB. Thank you.
It just seems so silly for MYOB to say you can import sales, but not mention that it will only work as expected if your line items are for particilar values.
Does anyone know whether Xero has the same issue? (After 20 years of manually entering hundereds of repetative invoices into MYOB each quarter, at this point we need to be working smarter not harder.)
Many of our invoices for each customer each quarter are identical as each other (but not necicarily the same from quarter to quarter, so setting recurring sales would not help save time). If I could have the few hundered invoices autogenerate for each customer, I could then manaully change the few that need to be different. But having just done a test with this quarter's invoice amounts, I see that three quarters of them would need manual adjustment to their line items to correct MYOB's rounding -- which is frustrating, and not the time-saver I was hoping for.
If anyone has suggestions of a program other than MYOB which would make this easier, I'd love to look into it. The problem is that, as in this case, products' limitations might not be mentioned in their documention, and I don't want to waste days testing as I did with MYOB.
And to MYOB: out of respect to your customers, please add this limitation to your documentation on the pages I mentioned that I used to try to set up our sales import process. That would have saved me great time and frustration.