How does Tax Rounding Work within Procurify?

Question:

• How many decimal places does Procurify round tax to?
• How do the Bills round tax?

Where:

• Procurify web app

Answer:

When adding tax to bills, the tax is first calculated per line using the line item cost and the tax percentage as it had been entered. Before totalling all of the tax on the bill, the tax amount for each line item is rounded to 2 decimal places after the calculation. Once the tax for each line is calculated and rounded, the total cost of tax for all line items will be added to the bottom of the Bill.

You will also see that within your bill exports that all tax is displayed within its rounded state as well, which is better supported when importing into an accounting product or service. This method of calculating, rounding, and adding, generates proper totals, and is more widely supported within and outside of Procurify.