I am using the VAT in the journal lines; when I put an absolute number BC showing wrong VAT amount the VAT is 5% and the example is 1000 means the VAT should be 50 but the amount shown in VAT is 47.62
If I used another amount like 255 it will show the correct VAT amount.
In the Purchase Invoices, it's working perfectly.
I faced this error before and solved but forgot how to solve, please help with many thanks
The reason for recording that in General journal, because this is a bank charge and the bank charges in my country have VAT 5%.
Do you want to share screen shot where the VAT is wrong?
Thanks in advance
check the VAT posting setup for standard-domestic if its 0.5% there
I remember this error is coming from rounding issues and Currencies.
Any hope to solve this problem
Thanks to all for support
there is no problem 21,000 is total include VAT. so excluding vat amount will be 20,000 and vat is 1,000 which is correct.
What problem? You VAT Amounts are correct in all your examples. 5% of 20000 = 1000, 5% of 21000 = 1050
Thank Mr Erik P. Ernst this was solved, in the Journals, we need to fill the amount ( Incl. VAT) not like the Sales/Purch. Docs. we can switch beteween Amounts Incl. or Excl. VAT