The following support note describes typical situations where the total invoice amount in WMS may differ from the total invoice amount calculated in Accounting software.
This occurs mainly when Tax is calculated by Accounting software using the 1/11 rule based on total invoice amount as opposed to Line-by-Line calculation based on the 1/11 rule.
In Cloud WMS system allows users to enter Tax Inc and Tax Exc and always post to Accounting software as Tax Inc.
A couple of scenarios with rounding you may experience when closing sales from WMS to Accounting software.
Case 1: There is a small cents difference between WMS and Accounting software.
We have had notification from Accounting software that in certain circumstances (no details given), Accounting software will recalculate the Tax on information being sent through the import.
This has been SOMEWHAT addressed; however, they could not rule out that some cases of rounding error may still occur due to a limited number of decimal places across a high number of line items with unit prices that are fractions of one cent.
For this, we are introducing a Sales reconciliation report. This will list all Closed WMS sales and match these to Accounting software Sales. Additionally, any sales difference in the Sale Total will be flagged with the difference amount. This will assist in tracking these discrepancies down and making adjustments if necessary.
Case 2: Prices are managed Tax Inc, and WMS does not calculate a total ending in .00
This case is generally due to discounts on low price items again, it comes back to 4 decimal place tracking of line prices.
The ATO is rather forgiving on rounding as they understand that various systems use different methods to calculate totals. As you are maybe aware, there are two valid methods of calculating invoice totals … the 1/11 method or per line tax method. In about 20% of cases, the two methods will yield anywhere between 1 - 2 cents difference.
In either case, use the Sales Reconciliation Report to identify differences and, if necessary, update individual invoices to account for differences or create an end-of-month/quarter service sales/credit to adjust for differences.
Rounding fixed manually in Accounting software invoice to have the same amount as WMS invoice.
Case 3: Rounding difference in Sales reports for FX foreign currency when reporting in AUD.
Sales report shows matched FX amount (as per Sales Order) however when reporting in AUD there might be a very small difference of varying amounts.
This difference is caused by the limitations of the exchange rates we can import into MYOB.
MYOB only accepts the exchange rates in reverse and up to 6 decimal places for import via the API.
1 AUD = USD Actual 0.671345 and USD 0.67135 (Visual MYOB)
which is the same as;
1 USD = 1.467671345
MYOB API only accepts the exchange rate "1.467675" (Maximum 6 decimal places) on import.
We send USD total (Not AUD) with the exchange rate to our maximum allowed number of places.
Once the transaction arrives in MYOB update the exchange rate on the Sale.
If you need help calculating the exchange rate you can click on the "Currency Calculator " Tool
There is no workaround to stop this difference from happening long term.
MYOB allows the screen correction while manually entering the sales but not after importing the sales.
It would get confused if we tried to send in the sale as it only accepts 3 decimals in discounts via import. As a result, the totals between the system's sales will not match sales we sent with additional decimals or may even fail to import.