How is GST calculated in Abtrac compared to MYOB
MYOB GST calculation
MYOB invoice lines are rounded to the nearest cent before tax is calculated.
MYOB calculates the GST for each individual line on a transaction, unrounded.
The total GST on the invoice is the sum of the individual line tax item amounts which is then rounded.
The line by line calculation of GST is a standard GST calculation process that enables different GST rates to be used in the same invoice.
Abtrac GST calculation
Abtrac allows invoice lines exclusive of tax to be unrounded, e.g. 30% of $450.99 = $135.297.
Abtrac then calculates the GST for each individual line on a transaction, and does not round these tax line amounts.
The total GST on the invoice is the sum of the individual line item amounts which is then rounded in the invoice total section.
This total GST value is then cross checked against the total invoice amount exclusive of GST.
Like MYOB, the Abtrac GST calculation process still enables different GST rates to be used in the same invoice, but also ensures that GST on the total invoice amount is correct mathematically.
When do Abtrac line amounts have more than 2 decimals.
Where Abtrac has allowed an invoice line with more than 2dp you’ll also see this warning message on the invoice line.
Sometimes this occurs for automatically generated invoices where timesheet rounding isn’t set to mathematical.
Sometimes it happens when your disbursment lines include more than two decimals.
You can also set an invoice line to deliberately be more than two decimals when you require the tax inclusive invoice amount to be a round number.
Why is my MYOB invoice total due different to my Abtrac invoice total?
Sometimes if an invoice has multiple lines, the total GST can vary by a few cents when compared with an amount that is calculated on the total taxable amount of the invoice.
Comparison of Abtrac vs MYOB invoice line numbers
| Abtrac | MYOB | Both | Abtrac | MYOB | Abtrac | MYOB | |
| Invoice Line Amount | Rounded Invoice Line Amount | Tax Rate to Apply | Invoice Line Tax Amount | Invoice Line Tax Amount | Total Invoice Line Amount incl Tax | Rounded Total Invoice Line Amount incl Tax | |
| 211.25 | 211.25 | 0.1 | 21.125 | 21.125 | |||
| 200.00 | 200.00 | 0.0 | 0.00 | 0.00 | |||
| 555.75 | 555.75 | 0.1 | 55.575 | 55.575 | |||
| 100.6667 | 100.67 | 0.1 | 10.06667 | 10.067 | |||
| Invoice total ex GST (2dp) | 1067.67 | 1067.67 | |||||
| GST total on invoice (2dp) | 86.76 | 86.77 | |||||
| Invoice total incl GST (2dp) | 1154.43 | 1154.44 |
How to find any invoice total differences between the two systems
For any invoices that may contain small balance variations you’ll see this pop-up before uploading to MYOB.
In Abtrac each batch uploaded to MYOB includes a summary of totals in the View Invoice batch screen. Go to Accounting > Invoices > View Invoice batch to review totals for the most recent upload.
You can view and compare the same invoices in MYOB from the sales tab. MYOB Business doesn’t include an invoice status, so to compare you’ll need to review balances by searching by date or invoice number in MYOB and confirming the amounts from Abtrac.
Alternately, if you are using Abtrac to send both invoices and statements you can adjust for any rounding issues after payments have been reconciled by following the steps below.
See also:
Sending Statements from Abtrac
How to adjust for GST discrepancies in MYOB
You can adjust for the small GST variance MYOB by making a rounding adjustment.
You can do this in MYOB by ticking the tax inclusive box at the top of the invoice and then manually changing the line amounts to the correct value.
This will bring the total invoice to the correct value and match your invoice.
Alternatively, you can add a line to the invoice with the following details:
- Category – use the account code for adjustments
- Amount – the amount of the adjustment, eg 0.01
- Tax Code – None
Abtrac KB#2201