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Finance | Project Operations, Human Resources, ...
Suggested Answer

sales tax calculation excluding discount on both purchase and sales invoice

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Posted on by 143

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

I have the same question (0)
  • SKITSIS Profile Picture
    20 on at

    Did you find a solution for it?

  • Arcadi  Profile Picture
    796 on at

    Just curious, for what country is this for?

  • SKITSIS Profile Picture
    20 on at

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

  • Suggested answer
    Arcadi  Profile Picture
    796 on at

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

    pastedimage1673334623169v1.png

    pastedimage1673334706875v2.png

  • SKITSIS Profile Picture
    20 on at

    Thank you!

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