4POS Support

4POS => 4POS FAQ's => Topic started by: gambinga on April 05, 2014, 12:47:06 PM

Title: WRONG VAT\ TAX CALCULATIONS
Post by: gambinga on April 05, 2014, 12:47:06 PM

HIE AFTER RUNNING THE LATEST UPGRADE MY SYSTEM IS CALCULATING TAX THE WRONG WAY. I HAVE INPUTTED 15PERCENT BUT ON THE RECEIPT IT PUTS 13 PERCENT

Title: Re: WRONG VAT\ TAX CALCULATIONS
Post by: Admin on April 06, 2014, 02:17:44 PM

You MUST remember to do the Update POS after making changes in the backoffice!

Title: Re: WRONG VAT\ TAX CALCULATIONS
Post by: siyasanga on November 10, 2017, 01:37:56 PM

Good day all, this might sound stupid but I need help.. how do I post on this website? ;D

Title: Re: WRONG VAT\ TAX CALCULATIONS
Post by: Admin on November 12, 2017, 03:46:20 PM

You are posting...

Email your questions to support@4pos.co.za

Title: Re: WRONG VAT\ TAX CALCULATIONS
Post by: Admin on April 28, 2023, 08:53:02 AM

4POS has been around since 2002...

Would have imagined that by now we have earned some credibility....

VAT is calculated by taking the inclusive selling price of an item & dividing it by the VAT percentage over 100+ VAT

In other words... If your item sells for R100 at a VAT rate of 15% : 100/1.15 = The excluding price of the item which is R86.96

The VAT is in other words the difference : 100.00 - 86.96 = R13.04 Meaning the VAT included in the R100 selling price is R13.04


Now, lets do the same calculation on a 13% (Botswana)

P100 / 1.13 = P88.50 (The excluding price of the item)

VAT : P11.50