When calculating GST on an Invoice, your result may appear to be one (or more) cents higher than 10% of the total, or have a rounding error issue.
This is as a result of applying the Australian Tax Office’s (ATO) Taxable Supply rule, which calculates the GST amounts for each item on a multiple line item Invoice separately, then combines for a total.
(Download the GST Calculation in mattero guide for more information.)
There are two options to alter the calculated GST total from an Invoice.
To edit the GST amount before the Invoice is approved:
- While an Invoice is still in a “Draft” state, open its Edit page (view the Edit and Adjust Invoices article for more information) and select Adjustments.
- In the Time Record Adjustments window that opens, edit one or more amounts in the New Amount column by one or two cents and select OK.
Repeat this process until the Total GST displays the appropriate amount.
To edit the GST amount after the Invoice has been approved:
- Approve the Invoice and download it as a Word file, then edit the existing GST amount to remove the additional cent, and send this file to your client.
- Once the Invoice is paid, write off the remaining cent.