Author Topic: VAT Exempt Sales  (Read 7108 times)

0 Members and 1 Guest are viewing this topic.

CapitalIT

  • Guest
VAT Exempt Sales
« 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.

Admin

  • Administrator
  • Hero Member
  • *****
  • Posts: 515
    • 4POS Point of Sale Solutions
Re: VAT Exempt Sales
« Reply #1 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)