4POS Support

4POS => 4POS FAQ's => Topic started by: CapitalIT on January 11, 2013, 09:46:17 AM

Title: VAT Exempt Sales
Post by: CapitalIT on January 11, 2013, 09:46:17 AM

If you sell an item that is exclude of VAT it reflect on your VAT report under the heading: Total Sales Including VAT.If you take a calculator to calculate the VAT on the total of :Total Sales Including VAT, it will be wrong because your exempt sales is also included in that total.

Title: Re: VAT Exempt Sales
Post by: Admin on January 13, 2013, 09:34:44 AM

As mentioned in my email to you - You are misinterpreting the heading.

What is included in the amount is the total Turnover of the transactions - inclusive AND exclusive items!

Thereafter 4POS reports the NON-Taxable turnover (Sales)