A while ago I got a question about extract from document tax calculations in Acumatica.
In Thailand there is requirement by law to calculate tax from Document Amount, however in Acumatica we have only option to extract tax from item amount.
However this calculation is not aways correct due to rounding differences between line amounts and document amount.
For example if you have 7% tax and 3 lines (47000, 18000, 9000) with total 74000 than:
- If you calc taxes from each line and sum it than you get Taxable Amt = 69,158.87, Tax Amt = 4,841.13
- If we calc if using excel (Amt – Amt*1.07), than Taxable Amt should be 69,158.88, Tax Amt 4,841.12
You can see the difference in 1 cent that is not correct actually.
How to solve it? The solution will be increase tax precision calculation, so rounding diffrences want affect anymore.
In the latest version of Acumatica (2018R2 Update 4) you can do it with customization. To do this you need to redefine TaxAttribute and set Precision there. Also please remember to redefine precesion of amount fields – CuryTaxableAmt and CuryTaxAmt.
Please see here example on how can you do this for AR Invoice. The same you can do for SO, PO and AP.
Hope it helps!