TAX

[Former Member]

Hi All,

I have Maintianed AP sales tax code X1 3.00 Percent with Jurisdiction code.

When i try to enter 1000 Dollars invoice it is calculating 29.13(Supose to be 30.00).

any idea?

Thanks,

Rau

[Former Member]

Hi Rau,

Your Invoice will be inclusive of tax. The 1000 dollars is the total amount of invoice (inclusive of tax).

The sales tax formula in this case will be as follows:

R/100+R *Total amount of Invoice

3/103 * 1000=29.13

The crux here is the invoice which the business raises will be inclusive of tax

Hope Im clear

Regards

A

Assign points if useful

[Former Member]

1000 dollars is your Invoice value and not base value.(base value is exclusive of tax)

Regards

A