Taxes

Eugene Kuchynski — Fri, 23 Apr 2021 08:28:06 GMT

Current Revision posted to Wiki by Eugene Kuchynski on 4/23/2021 8:28:06 AM

The list of taxes which may be included in invoices. You may specify Name and Rate (in percent) for each tax. Later, when preparing a new invoice, you may select taxes for each row and corresponding amount will be added to the job amount.

Gross-based mark allows to calculate tax amount based on the gross amount, instead of net. Example: invoice net amount is 900 USD, and tax rate is 10%. For net-based calculations, gross amount will be determined as 900 * (100 + 10) / 100 = 990. For gross-based taxes final amount will be determined using the following formula: 900 / (100 - 10) * 100 = 900 / 0.9 = 1000.

In addition, you may specify default tax in the application settings, in the client editing form (for particular client) or in the vendor editing form (for particular vendor), which will be automatically applied to all newly created invoices.

Tags: vat, reference data, taxes

Taxes

Eugene Kuchynski — Sat, 13 Jul 2019 09:47:56 GMT

Revision 1 posted to Wiki by Eugene Kuchynski on 7/13/2019 9:47:56 AM

Gross-based mark allows to calculate tax amount based on the gross amount, instead of net. Example: invoice net amount is 900 USD, and tax rate is 10%. For net-based calculations, gross amount will be determined as 900 * (100 + 10) / 100 = 990. For gross-based taxes final amount will be determined using the following formula: 900 / (100 - 10) * 100 = 900 / 0.9 = 1000.

In addition, you may specify default tax in the application settings, in the customer editing form (for particular customer) or in the contractor editing form (for particular contractor), which will be automatically applied to all newly created invoices.

Tags: vat, reference data, taxes