VAT Rounding Gekko

VAT rounding invoice: per performance

In Gekko, the software rounds the VAT per invoice line (per performed service). This means that the VAT is calculated for each invoice line. The calculated VAT per invoice line is then added to the subtotal to calculate the total of your invoice.

For an invoice in Gekko, the VAT is not rounded based on the (sub)total amount.

Invoice rounding Ex. VAT

If the total amount of your invoice doesn't come out neatly due to, a cent being overcalculated because of the rounding of the VAT. In that case, you can use the "Inc. VAT" option for the 'Unit price' when creating your invoice.

Importance of consistent choice

The Dutch Tax Authorities indicate that it is possible to round VAT per performance or based on the (sub)total. The most important thing is to consistently use one type of calculation.

For more information, please read the website of the Dutch Tax Authorities (in Dutch): www.belastingdienst.nl/wps/wcm/connect/bldcontentnl/belastingdienst/zakelijk/btw/administratie_bijhouden/facturen_maken/btw-bedrag_afronden 

VAT return and rounding

In Gekko's VAT report, VAT amounts are rounded to whole euros. These rounded amounts are included in the VAT return and rounded in your favor.