Setting Tax Rounding Preferences on Customer and Vendor Records

You can specify a tax rounding method and rounding precision setting for a customer or vendor if the Allow override rounding setting per Entity box is checked on the Set Up Taxes page for the country nexus that the customer or vendor is associated with.

If the Allow override rounding setting per Entity box is not checked, tax amounts will follow the tax rounding method and precision defined for the country nexus, no matter what tax rounding method and precision have been set for customers and vendors.

If tax rounding preferences are not defined on the entity record, the system uses the preferences defined for the country nexus.

For information about setting tax rounding preferences for a country nexus, see Setting Tax Rounding Levels, Methods, and Precision Settings.

See also Tax Amounts on Transactions.

To set tax rounding preferences on a customer or vendor record:

1. On the customer or vendor record, click the Financial subtab.

2. In the Tax Rounding Precision field, select the decimal or whole number precision you want to use for values entered in tax reports for this customer or vendor. The following options are available:

   • .01 and Below – Values in tax fields will be rounded to two decimal points. (Default)

     Note:

     This option is not available in Japan edition accounts without Advanced Taxes.

   • .1 and Below – Values in tax fields will be rounded to one decimal point.

     Note:

     This option is not available in Japan edition accounts without Advanced Taxes.

   • 1 and Below – Values in tax fields will be rounded to the nearest single integer.

   • 10 and Below – Values in tax fields will be rounded to the nearest 10 points.

   • 100 and Below – Values in tax fields will be rounded to the nearest 100 points.

3. In the Tax Rounding Method field, specify how to apply the rounding precision to tax field values for this customer or vendor. The following options are available.

   • Round off – Values in tax fields will be rounded to the nearest integer or decimal place specified in the Tax Rounding Precision field.

   • Round down – Values in tax fields will be rounded down to the nearest integer or decimal place specified in the Tax Rounding Precision field.

   • Round up –Values in tax fields will be rounded up to the nearest integer or decimal place specified in the Tax Rounding Precision field.

4. Click Save.

Related Topics

Setting Tax Rounding Levels, Methods, and Precision Settings

Setting Tax Rounding Preferences for a Customer or Vendor - Japan

Setting Tax Rounding Methods - Japan

Selecting Precision Settings - Japan

General Notices