In the case of having a large number of invoices, certain deviations (in the tax amount, by a few cents) may occur when transferring the invoices to the accounting program and subsequently posting them to the general ledger.
This instance is more frequent if a lot of products are sold for the same price.
The cause of this issue lies in the data transfer method as every invoice is transferred as an individual entry, where all numbers (net, tax, gross prices) are rounded to 2 decimals. With a large number of invoices, these rounding errors accumulate and consequently, deviations arise.
The following example portrays this issue:
- A company has issued 100 invoices with a gross amount of 20 EUR for a product to which a tax rate of 22% applies
- For one invoice, the gross amount is 20 EUR, the net amount is 16,39 EUR and the tax is 3,61 EUR
For 100 invoices, the final amounts should be:
Gross - 2000,00 EUR,
Net - 1639,34 EUR and
Tax - 360,66 EUR.
If net and tax amounts were summed up, that would equal the gross amount without deviations.
However, if the invoices are imported to the accounting program (or all 100 invoices are manually added to the accounting program), the amounts would be the following: gross - 2000,00 EUR, net - 1639,00 EUR, and tax - 361,00 EUR. As we may see from the numbers above, there are certain deviations related to the net and tax amounts respectively.
Unfortunately, as of now, the problem is not solvable, since the exchange data must be identical to the data displayed on the physical invoice (rounded to 2 decimals). The only solution is the manual correction of numbers in the accounting program.