might quickbooks use banker's rounding? I know bankers rounding uses some absurd system for rounding (:
----- Original Message ----- From: "Bernard Lis" <[EMAIL PROTECTED]> To: "RBASE-L Mailing List" <[EMAIL PROTECTED]> Sent: Sunday, January 12, 2003 5:52 PM Subject: [RBASE-L] - Re: Rounding, QuickBooks Pro, and Rbase > Mike, > I don't think it matters. The employee has to compensate for this when he > figures his taxes at the end of the year. I use the annual table formula. > If employee is paid weekly, multiply by 52, calc taxes and divide by 52. If > monthly, multiply by 12, etc. > I've been doing it this way since the days of 2.11 > > Bernie Lis > Megabytes, Inc. > Walled Lake, MI > > ----- Original Message ----- > From: "mjs" <[EMAIL PROTECTED]> > To: "RBASE-L Mailing List" <[EMAIL PROTECTED]> > Sent: Sunday, January 12, 2003 7:44 PM > Subject: [RBASE-L] - Rounding, QuickBooks Pro, and Rbase > > > > Hi all, > > > > I wrote a payroll program. The employee earned $552.00 (single, 0 > > allowances). > > According to the Circular E formula, the Federal Withholding Tax should > > be $69.50. > > > > (((552-164)*.15)+11.30) = $69.50 > > > > WHY DOES QUICKBOOKS ROUND THIS TO $69 INSTEAD OF $70? > > Makes my application look dumb! > > > > Mike Sinclair > > >
