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Suggested answer

sales tax calculation excluding discount on both purchase and sales invoice

Posted on by 764

Dear All,

is it possible to calculate sales tax before discount applying on line item in purchase and sale invoice e.g.

Before discount item cost/sale price= 100

discount amount= 10

after discount item cost price =90

sales tax= 5%

sales tax amount = 5%*100 (before discount amount)= 5

net purchase and sale amount = 90+5 = 95

  • SKITSIS Profile Picture
    SKITSIS 20 on at
    RE: sales tax calculation excluding discount on both purchase and sales invoice

    Thank you!

  • Suggested answer
    Arcadi  Profile Picture
    Arcadi 780 on at
    RE: sales tax calculation excluding discount on both purchase and sales invoice

    What you are looking for is Cash discount (7.25% VAT * 3): 

    pastedimage1673334623169v1.png

    pastedimage1673334706875v2.png

  • SKITSIS Profile Picture
    SKITSIS 20 on at
    RE: sales tax calculation excluding discount on both purchase and sales invoice

    Early payment discount in Canada (the Sales Tax has to remain the same)

  • Arcadi  Profile Picture
    Arcadi 780 on at
    RE: sales tax calculation excluding discount on both purchase and sales invoice

    Just curious, for what country is this for?

  • SKITSIS Profile Picture
    SKITSIS 20 on at
    RE: sales tax calculation excluding discount on both purchase and sales invoice

    Did you find a solution for it?

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