Discussions

Ask a Question
Back to All

Strange VAT Calculation Discrepancy - Formula Issue or User Error?

I'm having a bit of a headache with VAT calculations lately. I'm using the standard formula (VAT rate * net price = VAT amount), but I'm getting slightly different results compared to my accounting software. The difference is small, but it's enough to throw off my reports.

Has anyone else encountered this issue? Is there a possibility the formula is wrong, or am I missing something simple?

Here are some additional details that might be helpful:

VAT rate: 17%
Net price: €100.00
My calculation: €17.00
Accounting software result: €16.97
Any insights or suggestions would be greatly appreciated!