Hi,
I've recently downloaded and am evaluating V1.9.6.560, and I like most of what I've seen so far.
As to calculating VAT though, when I set the tax rate to 15% (the VAT rate in my country) with "Taxes included in prices" checked in Property Settings, and then "sell" an item priced at $11.50, the summary on the customer receipt shows the VAT as $1.72.
This works out to a rate of 17.2% of my intended selling price - $10.00 before VAT.
I can "work around" this problem by setting the Tax rate at 13% (which is actually the VAT fraction), so the calculation is correct except the VAT is printed as 13% on the receipt.
Any plans to change this?
VAT Calculation
Wow!
With such a prompt response I can see why other posters have been impressed with the support for the product.
My country is Trinidad & Tobago.
We have two VAT rates - Standard 15% and Zero rated and also exempt.
As far as I am concerned at this time, getting the programme to calculate the VAT as I explained earlier is what I am looking for.
Thanks again for the speedy reply (and promise of a solution)
p.s. I did, in the interim, edit out the Tax Rate from the Bill Configuration, so the printout was no longer erroneous.
With such a prompt response I can see why other posters have been impressed with the support for the product.
My country is Trinidad & Tobago.
We have two VAT rates - Standard 15% and Zero rated and also exempt.
As far as I am concerned at this time, getting the programme to calculate the VAT as I explained earlier is what I am looking for.
Thanks again for the speedy reply (and promise of a solution)
p.s. I did, in the interim, edit out the Tax Rate from the Bill Configuration, so the printout was no longer erroneous.
The issue with VAT calculation has been fixed.
Download the updated version from the following location:
http://www.abacre.com/download/arpos.zip
Install it over existing version. It will update needed files.
Download the updated version from the following location:
http://www.abacre.com/download/arpos.zip
Install it over existing version. It will update needed files.