FrontAccounting forum — Question about tax calculation

Re: Question about tax calculation

null@example.com (spott) — Sun, 06 Feb 2011 16:45:07 +0000

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

Re: Question about tax calculation

null@example.com (itronics) — Sun, 06 Feb 2011 14:40:03 +0000

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

null@example.com (spott) — Fri, 04 Feb 2011 20:14:49 +0000

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