ITX Box 6-9 Rounding
Options
stranger
Registered Posts: 12 New contributor 🐸
Hi
I wonder if anybody noticed that AAT suggested answers to CBA rounded up Box 6-9 if the pence are 50p or over. According to all textbooks, all pennies are ignored and £ are not rounded up. Is this an AAT error?
I wonder if anybody noticed that AAT suggested answers to CBA rounded up Box 6-9 if the pence are 50p or over. According to all textbooks, all pennies are ignored and £ are not rounded up. Is this an AAT error?
0
Comments
-
ITX Rounding
In the "good old days" when the VAT Return was done on paper - boxes 6-9 were indeed whole pounds only (pennies ignored) ... however with Online Filing of VAT100 directly from Sage there is no rounding at all and the pennies are left intact.
I guess, if you want to pass the exam, you will need to pay attention to the way AAT does it even though it appears incorrect.
Not very helpful I know as students won't know when/if AAT correct their error so we will know which way to answer the exam questions.0 -
Hi Stranger
I passed my ITX exam last week and from my experience I would suggest to follow AAT instruction.
Good Luck
Ronnie0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.4K For AAT students
- 263 NEW! Qualifications 2022
- 144 General Qualifications 2022 discussion
- 9 AAT Level 2 Certificate in Accounting
- 44 AAT Level 3 Diploma in Accounting
- 66 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 268 VAT
- 90 Software
- 271 Tax
- 133 Bookkeeping
- 7.1K General accounting discussion
- 195 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 578 Job postings
- 16 Who can benefit from AAT?
- 35 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership