Sales Tax Rounding Calculation on Misc AR Invoices

[Version 10.1] ENHANCEMENT - New Advanced Setting for Misc AR Invoice Sales Tax Rounding Calculation [PMID Ref No 14941]

The Miscellaneous A/R Invoice Screen has been updated with new functionality to change the calculation method used to compute sales tax for customer invoices.  The default setting for sales tax calculations is currently based on the 'Bankers Rounding Rule' method where the half cent is rounded up or down based on odd or even amounts.  This new setting (when enabled) will force the system to round the half cent up to the next penny and override the default method.

•Default Calculation Example:  An invoice with a taxable amount of $298.00 and a sales tax rate of 7.75% will compute the sales tax at $23.09 (rounding down from 23.095).

•Sales Tax Round Up Example:  When the new advanced setting is enabled, an invoice with a taxable amount of $298.00 and a sales tax rate of 7.75% will compute the sales tax at $23.10 (rounding up from 23.095).

This new feature is enabled under the Advanced Settings Screen:

•Go to File > System Administrator > Configuration > Advanced Property Settings Button

•Select the new setting 'EnableSalesTaxRoundUpForARInvoices' and click the Add Advanced Company Setting Button