Home – New Forums Money matters xero rounding help!

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  • #982225
    lilly
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    Hi Everyone!

    I’m newish to xero and I have noticed that when you make out an invoice xero doesn’t round off the total amount owing eg $198.16

    How do I change this? Is there a set up that I have missed?

    Is it acceptable to send out invoices that are not rounded. I have realized that I have sent out a few like this :o:eek:

    kindest regards
    Lilly

    #1135627
    CindyK
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    Hi Lilly,

    Well, technically you can make the invoice whatever you like. If it isn’t rounded, you are under no obligation to round it. We find most people have less trouble paying a round number. Less keying/transposition errors i.e if your invoices are $198.23 you will see more occurances of $192.83 etc etc. It’s cleaner and simpler to have a round number.

    In Xero, you can get around the rounding by using the Tax Inclusive button. I imagine at the moment you are using the Tax Exclusive to calculate your total. On your invoice screen, on the right hand side, in the top section, opposite the currency box, is the tax box. If you change the drop down to Tax Inclusive, the amounts you are invoicing now already include tax, change them to the amount you want to invoice, you shouldn’t have any more issues.

    If you do, let us know what they are.

    #1135628
    lilly
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    Thank you Cindy :)

    Can you just change the total amount yourself legally like if it was 198.97 to 198.95 or 199.00?

    I suppose I prefer using Tax exclusive because for my wholesale pricing I list item prices as tax exclusive and I thought that it seemed clearer in my invoicing if I were to add gst at the end. Is this what is the norm in invoice land??

    kindest regards

    Lilly

    #1135629
    Mesa Paradigm
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    Hi Lilly,

    In the end the price is what you choose to charge. I personally would put in a small note that says “prices rounded to nearest 5 cents” or even just adjust your prices so that instead of something like 53.23 per item, just make it 53.25? Unless you are on-selling a product which is strictly controlled, I highly doubt you will ever find anyone objecting to a 4 cent difference in price (which is the maximum per item) or for the overall price..

    Norm is for GST to be exclusive that’s right (easier to adjust)

    Cheers!

    #1135630
    lilly
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    Thanks Mesa:)

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