Phreesoft Support Forum

Hi,

I can't seem to see whether this is supported. Can't find any reference to it in the forum.

I would rather not specify a net price + sales tax (US style) but a gross price incl. VAT (UK style) for all my sales.

Is there a global setting anywhere that changes tax handling to UK style ? Alternatively, is there any way to set up inventory items so they change the way they are managed for tax?

It's not a train smash, just awkward.

Thanks!

Minor update. I tried a few scenarios and rounding errors are causing problems. Example:

A sku that I want to sell for £5 incl. VAT. UK VAT is currently 20%. The math tells you that the sku price should be £4.166666.., leaving tax to calculate at £0.833333..

It seems I have to set the currency decimal places to 5 to get any level of accuracy. Interestingly, even if I set it to >5, there's a default somewhere that limits it to 5.

So if set to 5, then I find it goes wrong if I sell 500, it adds a penny. I can get around it by entering two items, one with qty 300 and one with qty 200. So that's the most accurate I can get it.

Am I stuck with this method, or am I going down the wrong path ?

Thank you

Tony

I have a bit of the same problem, I make my sku price without tax included then adjust my price to get the desired sell price with tax included.

I use zencart set to show price with tax included to show my customers,

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Alvin

Thanks Alvin,

assuming I don't get any replies to the contrary I'll assume that's what I will need to do.

Thank you again

Tony

I do have some variances accounts in me GL that I use to balance the books. Used mostly for exchange rates. Depending on how you calculate and pay tax you may have a small variance. It would be a small income or expense.

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Alvin

Yes good thinking. Thank you.

if i understand you correctly your prices are always rounded to five or null.
This is something i have interest in too

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Rene Kervezee

Please don't take this as authoratative, you should really get the formal story from Phreesoft. I just did some simple analysis and it seemed clear to be that whatever level you set it to, the maximum level is 5.
So to be clear, it's not 5 or 0, it's 5,4,3,2,1,0 but no more.

We are looking for a replacement for Quickbooks - in the UK - we have been looking at this software and think it looks great - But....

We also have this VAT rounding issue - we need to set item details to 5dp for accuracy on multiple items, but then end up with all prices on the invoice being quoted as £500.00001 or similar - not being as expert in php is it possible to keep the details as 5dp but round to 2dp (£500.00) when printing the totals?

We primarily work in retail sector so we have to show prices as tax inclusive

Has any resolution been found for this?

Otherwise a really great piece of software

Andrew

Let me state - I am NOT a php expert.

Was having an explore of entry_builder.php and looking at how he calculated values change as you change the quantity of an item that has VAT chargeable - our example is an item that sells at £2.45 inclusive of VAT at 20% - item price is 2.041666666666.

Using an item price of 2.04167
With 1 item the invoice shows item of 2.04, vat of .41 and the correct total of 2.45
2 items gives items of 4.08 , 0.82 and 4.90 - correct
3 items gives items of 6.13 , 1.23 and 7.36 - incorrect

BUt if you round the price first to 2.04 - different error

1 item 2.04, .41 and total of 2.45 - Correct
2 items 4.08, .82 and total of 4.90 - Correct
3 items 6.12, 1.22 and total of 7.34 - Incorrect

What have I missed in the sequence of converting item value to currency vale, calculating of tax and application of the quantity - surely by using the rounded item price of 2.04 why is vat calculation wrong on the 3 item line?

Andrew

i think the logic is right 3* 2.04167 is after rounding 6.13.
In the new pos release will be rounding.
But if you are only using the phreebooks core you should look at the prices you set in your inventory module.

i have create a custom page with one extra field in witch i set the full price incl vat /tax
If the price i use would result in a rounding difference. the field turns red it lets me know if i have to pick a different price.

the files are included.

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Rene Kervezee