When entering prices into artworks, editions, products, or service fees (such as shipping) in SAM, the pricing algorithm sometimes requires 3 decimal places to calculate a clean and correct final 2-decimal price. Because all prices in SAM are entered excluding GST, the initial value needs to be input precisely to achieve the correct output.
Why Does This Happen?
SAM calculates GST based on prices entered without GST. If you only use 2 decimal places, rounding can occur too early in the calculation, causing your final inclusive price to be off by 1 or 2 cents Eg; $50.01. Using 3 decimal places ensures the rounding happens at the right stage.
Examples
| Desired Price (inc. GST) | Incorrect Input (2 Decimals) | Correct Input (3 Decimals) |
|---|---|---|
| $5.00 | $4.55 | $4.545 |
| $28.00 | $25.45 | $25.455 |
| $50.00 | $45.45 | $45.455 |
| $60.00 | $54.55 | $54.545 |
| $84.00 | $76.36 | $76.364 |
What To Do
- Always check your final inclusive price after saving an item in SAM.
- If your art centre notices an item price being out by 1 or 2 cents, use 3 decimal places when entering the ex-GST value.
- We recommend using the online GST Calculator Australia to easily determine the correct 3-decimal ex-GST value.
- gstcalculator.zone
- Insert the desired GST inclusive price Eg; 50
- Select Standard rate 10%
- At the bottom for Max. decimal places: select 3
- Click Subtract GST
- Use the GST exclusive price in the relevant SAM pricing field.
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