If you're reading this, you probably are wondering why your inclusive GST invoices, with a quantity > 1 are not showing you round numbers.
Let's break it down:
- You have the ability to add items as inclusive or exclusive of GST, on an individual item level.
- When you indicate that an item's cost is inclusive of GST, Ivy is back-calculating the unit cost of the item, based on your GST %, and the total cost of the item.
- Ivy rounds item costs to 2 decimal points to represent actual payable amounts, which is standard practice for accounting software tools.
Given above, when you have multiple quantities of an item that is inclusive of GST on a single line item, Ivy will continue to back-calculate the total unit cost of the item, so that total cost = (quantity x unit cost) + GST.
Here's what's happening: the unit cost is rounded to 2 decimal points (column: Rounded Value), however, if we were to not round to 2 decimal points, you would see that the Line Item Price (in the below chart) would reflect an odd number to account for the value of GST included in the rounded cost.
If you wish to correct this rounding logic for your GST inclusive line item, you will need to manually enter in the non-rounded unit cost of your item to 4 decimal points.