1 Topic by xodaix (edited by xodaix 10/15/2017 06:10:13 pm)

  • From: UK, Jordan
  • Registered: 05/24/2014
  • Posts: 15

Topic: Sales invoice not calculate the Tax correclty

Hi,

Frontaccounting version 2.3.24 or version 2.4.2, having an issue with the sales tax calculation.

if you open the demo site for the frontaccounting
http://demo.frontaccounting.eu

in the direct sales invoice screen if i sell 1 item with price equal 100 the sales tax is 5% then i get the result of 4.76 as a sales tax when it should show 5 as sales Tax.

https://s1.postimg.org/6nwtzmk6gv/Capture.png

please can any explain what that means ?

Regards

Post's attachments

DirectSalesInv.png 33.1 kb, file has never been downloaded. 

You don't have the permssions to download the attachments of this post.

2 Reply by poncho1234 (edited by poncho1234 10/15/2017 07:51:23 pm)

  • From: Colombia
  • Registered: 12/29/2014
  • Posts: 629

Re: Sales invoice not calculate the Tax correclty

No you have sold an item for 95.24 + 5% sales tax = 100

FA lets you have tax included or excluded.

You have chosen to sell the item using the retail sales type, go to Sales -> Sales Types, and you will see 'Retail' uses included taxes, edit this or create a new sales type.

For additional info on sales types, look in the Wiki

The FrontAccounting Wiki(Manual, examples, tips, setup info, links to accounting sites, etc) https://frontaccounting.com/fawiki/
  • From: UK, Jordan
  • Registered: 05/24/2014
  • Posts: 15

Re: Sales invoice not calculate the Tax correclty

Thank you, this was helpful.

Regards

  • From: UK, Jordan
  • Registered: 05/24/2014
  • Posts: 15

Re: Sales invoice not calculate the Tax correclty

I think we have something not correct here the included tax should show 5, not 4.76

  • From: Colombia
  • Registered: 12/29/2014
  • Posts: 629

Re: Sales invoice not calculate the Tax correclty

Please show your calculations

The FrontAccounting Wiki(Manual, examples, tips, setup info, links to accounting sites, etc) https://frontaccounting.com/fawiki/
  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,160

Re: Sales invoice not calculate the Tax correclty

(100 * 5) / 105 = 4.76%

apmuthu's Website

  • From: UK, Jordan
  • Registered: 05/24/2014
  • Posts: 15

Re: Sales invoice not calculate the Tax correclty

Yes sorry i was wrong, thanks for update