Streamtime rounding works as explained in our knowledge base article by applying tax and rounding to two decimal places on each line item.

This approach to rounding, is in line with accounting packages such as Sage and Xero.

Quickbooks appears to approach the way tax is applied by applying tax to the sum of the individual line items. Streamtime's ability to apply different tax rates to individual line items is one reason why it is better practice to apply tax per line.

As an example, an identical invoice was created in Streamtime and three different accounting packages:

Streamtime invoice

1. Sage - totals match those in Streamtime

2. Xero - totals match those in Streamtime

3. Quickbooks - total is out by .01

Page 21 of a Quickbooks VAT guide advises of a way to make small adjustments to correct rounding issues such as the above - http://anon.intuit-uk.speedera.net.edgesuite.net/anon.intuit-uk/2008/pdfs/VAT-in-QuickBooks-2008-a-detailed-explanation_.pdf

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