WARNING: The TrackAbout MetaWiki has been deprecated and is no longer being updated. Please visit our new TrackAbout Knowledge Base at https://supportkb.trackabout.com for the most-up-to-date documentation on TrackAbout and TrackAbout Mobile.
Rental Troubleshooting
Jump to navigation
Jump to search
Rental Bills - Tax calculation
Tax for Rental Bills is calculated on the Individual line Items, Rounded up to 2 decimal places and added up.
Example
- Customer has a tax rate of 6%. On the order, there are 6 line items at $12.09 and a flat fee of $10. Here is the math taking place is: $12.09 * 0.06 = $0.7254
- The system rounds up each line to the nearest 2 decimal point to $0.73. Multiple that by 6 for 6 items and you get $4.38.
- Add in the tax for the flat fee of $0.60, the total tax was $4.98.
- However, if you take the total of the rental bill which was $82.54 and multiply it by 6% it totals $4.95 (3 cents difference).
The tax was setup to be calculated at the line item level on purpose because of our integration with some ERP systems (Tecsys).