FrontAccounting forum — Question about tax calculation

Re: Question about tax calculation

2011-02-06T16:45:07Z

Input tax goes to Debitand output tax goes to credit. and at Balance sheet it shows correctly.

Re: Question about tax calculation

2011-02-06T14:40:03Z

Really don't know. Seems you have Input tax posted on wrong GL side. The Inputs/Input Tax values should be displayed negative.
Janusz

Question about tax calculation

2011-02-04T20:14:49Z

I have problem. I am trying to set up FA and I am adding right now with Journal Entrys the opening balance.

But I discover right now one problem, what I am not understanding. This is VAT tax problem. I have one GL account for booth - input vat and output tax.
From balance sheets its shows correctly, that I am owning 509,96. But when I am taking tax report - it doesn't subtract the input tax - but it sum the input and output taxes. Why?

Here is the output:

Tax Rate Outputs Output Tax Inputs Input Tax Net Tax
20,00% 3 176,40 635,28 626,60 125,32 760,60

Total payable or refund 760,60