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Dynamics 365 Community / Forums / Microsoft Dynamics AX (Archived) / VAT Calculation appear...
Microsoft Dynamics AX (Archived)

VAT Calculation appears to be incorrect

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Posted on by Community Member

Hi all, 

I have a feeling this is a very simple issue and I'm totally missing something as this is standard AX

I'll keep it quick and simple

Looking at a posted VAT voucher

Amount Origin           Calculated VAT amount           Actual VAT amount

316.67                          63.33                                          59.67

What is "Actual VAT amount"? Because 59.97 isn't 20% of 316.67

I apologise in advance if it's obvious - I am not a finance person

Thanks Team

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  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at

    Hi Dano,

    Users have the option to overwrite the calculated VAT amount that AX calculates based on your tax setup. When doing that you will find a difference between the calculated and actual VAT amount. This does not mean that something is wrong because there might be a specific reason why this adjustment was made. Your best option is probably checking with the accountant who recorded the invoice.

    Best regards,

    Ludwig

  • Community Member Profile Picture
    Community Member on at

    Hi Ludwig - thanks for the pointer.

    I don't feel something is wrong necessarily more like I don't fully understand why it is doing this. So the Calculated VAT value can be overwritten by a user?

    However in this instance the Calculated VAT field is correct - it's the Actual VAT amount that is incorrect. (should be 20% but the % is more like 18.5%.

    Thanks

  • Community Member Profile Picture
    Community Member on at

    Hi Crispin - you're a gent thanks.

    It is

    Sales Order --> Invoice Tab --> Invoice (Journal)

    Then on the overview tab it is 'Posted VAT' - the values are on that journal.

    (Just as side note - I have a feeling it's something to do with the 'Contribution ratio' which is a percentage of the margin field - although I'm still not getting the 59.67 figure - so maybe a red herring

  • Community Member Profile Picture
    Community Member on at

    I've got it.

    The original amount was 316.67 - with a VAT amount of 63.33. However the actual invoiced amount was 376.34 (inc VAT).  376.34-316.67 = the 59.67

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