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VAT Rounding Type Field, General Ledger Setup Table

Specifies how the program will round VAT when calculated for the local currency. To see the available options, choose the field.

Option Description

Nearest

The program will round up digits that are >=0.5. Otherwise, the program will round down.

Up

The program will round the amount up.

Down

The program will round the amount down.

The program always starts calculating the VAT Amount from the VAT Base Amount (or Amount Excluding VAT).

When you enter an Amount Including VAT in a document (journal line, sales document, purchases document), the system first calculates and rounds the Amount Excluding VAT, and then calculates by subtraction the VAT Amount because the total amount has to match the Amount Including VAT entered manually. In that case, the VAT Rounding Type does not apply as the Amount Excluding VAT is already rounded using the Amount Rounding Precision.

When you enter an Amount Excluding VAT in a document (sales document, purchases document), the system first calculates the VAT Amount and then calculates the Amount Including VAT by addition. In that case, the VAT Rounding Type applies.

Tip

For more information on how to work with fields and columns, see Work with Data. For assistance in finding specific pages, see Search.

Parent Tables

Table Location
Global Dimension 2 Code Field, General Ledger Setup Table General Ledger
Global Dimension 2 Code Field, General Ledger Setup Table General Ledger
General Ledger Setup Table General Ledger
Global Dimension 2 Code Field, General Ledger Setup Table General Ledger
General Ledger Setup Table General Ledger
Global Dimension 2 Code Field, General Ledger Setup Table General Ledger

See Also

Reference

General Ledger Setup

Other Resources

How to: Record VAT