Hi Mike, I've been trying to figure out how Quicken rounds for years. I've kept my investment records in Quicken since MYM failed. The portfolio value report is always off by a few cents from the broker's end-of-month report. MYM never had that problem. I more or less ignore the problem, but I understand your problem. The best I've been able to do in situations like yours is demonstarte that the software in question is doing rounding wrong and then figure out some way to compensate for it. In one company's profit sharing plan we had to adjust the controller's share by $.01 up or down. This is a real PITA.
Dave Billing Tall Tree Business Solutions ----- Original Message ----- From: "mjs" <[EMAIL PROTECTED]> To: "RBASE-L Mailing List" <[EMAIL PROTECTED]> Sent: Sunday, January 12, 2003 11:06 PM Subject: [RBASE-L] - Re: Rounding, QuickBooks Pro, and Rbase > > I just read up on bankers rounding, seems when there is "tie", you round > to the even number. 69.5 should go to 70, quickbooks makes it go to 69. > > Mike Sinclair > > -----Original Message----- > From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]] On Behalf Of Atrix > Wolfe > Sent: Sunday, January 12, 2003 9:01 PM > To: RBASE-L Mailing List > Subject: [RBASE-L] - Re: Rounding, QuickBooks Pro, and Rbase > > 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 > > > > > >
