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Microsoft Dynamics RMS (Archived)

VAT Tax Setup (10% GST) Help

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Posted on by Community Member

I think iv found a glitch or somthing is odd

I setup VAT as im in Australia (GST) and set it to 10%

But when i test items it dosent do the 10% correctly

a $50 should be taxed $5 with a 10% GST but its getting taxed $4.55

and a $100 item is getting taxed $9.09 when it should be gatting taxed $10

What gives?

Any ideas?

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Lori Penor [MSFT] on at

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Re: VAT Tax Setup (10% GST) Help

Hello -

The calculation is correct. For VAT, it is calculated as such: Gross Price – (Gross Price / ( 1 + Rate of VAT)) = VAT Amount. If you do an Internet search, you'll find similar results.

I hope this helps!

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Community Member on at

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Re: Re: VAT Tax Setup (10% GST) Help

thanks, I have found the ans i was looking for (my wording here is bad) but i was rly hoping you could list prices as Ex-vat but still have the VAT added on to the line price when u sell somthing... in the end i had to use tax exclusive and add 10% to the lines on the receipt so all prices are printed out inc vat

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Lori Penor [MSFT] on at

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Re: Re: Re: VAT Tax Setup (10% GST) Help

I'll add this to the RMS feature suggestions. Thanks!

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