Help Topic: Invoice Taxation

Invoices now support multiple Taxation rates.

This allows you to enter individual tax rate %'s against each line item in the invoice and have that refected in the invoice:

Rounding Rules for Tax Calculation

Tracker calculates tax based on the total of taxable invoice item value. An invoice item value is calculated automatically from the unit value passed in with the line, if present. 

• unit value fields have a precision of four decimal places.
• sub value fields have a precision of two decimal places.
• If first non-significant figure is >=5, the last significant figure is rounded up. Otherwise, it it rounded down.

The rounding precision for tax calculations is designed for two decimal place precision in Tracker. When inputing numbers into the invoice, you need to take this rounding into account. Tax is applied to the sub value fields after whatever rounding was necessary to get them to two decimal places. As such, if you are entering numbers based on unit value, then you need to be aware that your number can potentially be rounded twice before tax is applied.

The table below contrasts the effects of rounding on the final stored value of sub value and corresponding sales tax on that amount.