Paul Hill wrote:
Hi Peter,
If we take 200 and add 14%:
200 Net + 14 % = 228 Gross.
To calculate the vat amount from 228 :
228 * 14 / 114 = 28
14 / 114 = 0.1228070175438596
It's not normally how I would calculate VAT but it's correct.
Normally I use:
net = ROUND(gross / (1 + (VatRate / 100)), 2)
Paul
Sorry "gross" didn't register with me as I've never had to calculate the
vat from that figure.
So 28 is 14% of 200 but only 12.28% of 228
In SOP calculations you have to start off the net figure, then apply any
discounts including potential settlement discounts then apply the VAT %
to that. The net figure, discounts and the VAT amount are stored in the
SOP data so can use them separately.
Peter
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