CORE always rounds computed tax amounts on invoices to 2 decimal places, in keeping with standard accounting rules. This is fixed and cannot be configured. Invoice amounts cannot be set to show 3 or more decimal places.
Tax rates are stored and used in calculations at their full value. Rounding only applies to the final dollar amount, never to the rate itself.
CORE applies taxes on invoices in two ways:
- Line item taxes (Tax 1, Tax 2, Tax 3) are applied to each individual service or expense line item, using the tax rates set on the activity or expense item.
- Main taxes (Main Service Tax and Main Expense Tax) are applied to the total invoiced service amount and total invoiced expense amount respectively. By default, the main tax base includes any line item taxes already applied. You can exclude line item taxes from this base using a project-level setting.
In every case, the resulting tax dollar amount is rounded to 2 decimal places.
Invoice amounts always display to 2 decimal places. The decimal settings under Settings > Display & Formatting > Number Formatting control rates, units, and benefits only:
- No. of digits after decimal for rate (0 to 4)
- No. of digits after decimal for units (0 to 9)
- No. of digits after decimal for benefits (0 to 9)
There is no setting for the number of decimal places on amounts because invoice amounts are always fixed at 2 decimal places.