Issue:
Some users have noticed a discrepancy in the total amounts displayed between ServiceBox and QuickBooks Desktop, leading to questions about why the figures don't match.
Cause:
The discrepancy in total amounts between ServiceBox and QuickBooks Desktop can be attributed to the distinct rounding methods employed by each platform.
ServiceBox calculation method:
In ServiceBox, each line item on an invoice is calculated by multiplying the unit cost by the quantity. This calculated total for each line item is then rounded individually. When it comes to tax calculations, the unit cost * quantity is not rounded; instead, it's summed up for all line items and then multiplied by the applicable tax rate.
QuickBooks desktop calculation method:
On the other hand, QuickBooks Desktop follows a slightly different method. It rounds each line item's total first and then sums up these rounded totals to calculate the overall invoice total. When it comes to tax calculations in QuickBooks Desktop, the unit cost * quantity is summed up first and then multiplied by the tax rate. This subtle difference in calculation order can result in a slight variation in the tax amount for the invoice in certain cases.
Solution:
The discrepancy between ServiceBox and QuickBooks Desktop totals is a known issue, and the development team is actively working on a solution to address it. In the near future, there are plans to rewrite the invoice calculation process in ServiceBox to provide users with more flexibility and alignment with various accounting software, including QuickBooks Desktop.
For further assistance or inquiries, reach out to the dedicated support team at [email protected]