DonaldFish
12-18-2001, 07:43 AM
With respect to sales taxes recorded for purchases from vendors, I would appreciate learning if there is a generally accepted practice for dealing with sales taxes when the rounding causes a different invoice total. For example:
I purchase a pen for $.4.90 and a box of pencils for $4.90. The sales tax is 5%, so the recorded price of each is $5.15, with $.25 sales tax each for a total of $.50 sales tax. But when purchased on the same receipt, rounding causes the sales tax to be $.49. How should this be delt with?
I purchase a pen for $.4.90 and a box of pencils for $4.90. The sales tax is 5%, so the recorded price of each is $5.15, with $.25 sales tax each for a total of $.50 sales tax. But when purchased on the same receipt, rounding causes the sales tax to be $.49. How should this be delt with?