VAT calculation functioning incorrectly

Shop4Tackle

A-Men ....

What you seem to be doing is calculating you total figure by 20% therefore giving you a figure of £140 (£700 x 20% = £140) however that would be if your final figure was to be £700 + VAT. If your actually cost of the job less VAT then the calculation is different ... it is 700 divided by 1.2 giving you a cost before tax of £583.33 and a VAT amount of £116.67 = Total incl VAT of £700

Now I am no accountant and I struggled with this adding tax deducting tax until a friend introduced me to a little APP for my iPhone .... its called Sulfur VAT

And if you have been paying too much tax to the VAT man for the last 9 years you might be due a nice refund LOL .... ask your accountant friend

flennwagner

Simon Mogridge wrote:

Hi,

I recently installed 'Express Invoice' and have paid the basic amount after the time trial ended.

I've just noticed today that although all of my settings appear to be set to calculate the VAT at the UK 20% the actual figure that is being calculated by the software is 16.66%

I've double checked all of my previous invoices that I've sent to clients and... they are all incorrect!

I've gone to the prefernces and checked everything and it all appears correct vat formula- I've even tried adding a new VAT standard at 20% and it still won't calculate the VAT correctly.

...any ideas?

Any help would be greatly appreciated!

I use Sage 50 V23 and have several companies in the same package. However one of the companies has the problem below, When I calculated my '32' VAT return in one company the software posted the journal as T0 When I calculated my '33' VAT return in the same company the software included the journals in the calculations. The accountants I worked with rectified the incorrect journal posting. However, when I calculate the '34' VAT, again the journals are included in the calculations. I do not seem to be able to delete the journals to re-enter. If I reverse the journals, again they show up in the calculation. Can anyone help me to rectify this?

Antony_Kidless

flennwagner wrote:

I use Sage 50 V23 and have several companies in the same package. However one of the companies has the problem below, When I calculated my '32' VAT return in one company the software posted the journal as T0 When I calculated my '33' VAT return in the same company the software included the journals in the calculations. The accountants I worked with rectified the incorrect journal posting. However, when I calculate the '34' VAT, again the journals are included in the calculations. I do not seem to be able to delete the journals to re-enter. If I reverse the journals, again they show up in the calculation. Can anyone help me to rectify this?

If you have problems in calculating tax use the VAT calculator https://vatulator.co.uk/

flennwagner

Antony_Kidless wrote:

If you have problems in calculating tax use the online vat calculator

thank you

annjohanna

I'm developing some export features to import my order data into my accounting program.

If I could have the order's entire cost without VAT, that would be great.

All of the prices in my shop include 21% VAT.

The 'total_products' field in the 'ps_orders' table should provide me with the total number of products (without transportation) minus VAT.

I get accurate values from "total_products_wt" that include tax (what the buyer paid).

However, the figures in this column seem somewhat odd to me.

For example:

Product weight total: 414.00 (actual price includes 21%)

342.20 for total_products (should be 414/1.21=342.15)

or:

weight of all products: 100 (correct = price plus 21%)

total_products: 83 (should be 82.64, 100/1.21).

The disparity is too great to be a simple rounding error, isn't it?

I simply utilize color, which has no bearing on price; I don't use attribute or discount pricing.

I don't see any issues when I look in classes/Order.php, but perhaps I'm looking in the wrong area.

please read more information здесь
I looked through the entire thread, but I couldn't locate anyone else experiencing this issue. Perhaps no one had checked the database?

Does anyone have a solution or can someone verify this?

annjohanna

I sincerely appreciate your response and your prompt response. I just made a new invoice and the VAT amount is now calculated the way I wanted it to be after going to the settings and checking the box GTA San Andreas for IOS !

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