Adding tax to products we GRV

V5 Question
1

Hi all.

I would like to add tax to inventory purchase transactions, where inventory purchased with tax sets the tax (included in the price) into an account VAT Purchase. Then I create a report that displays the total of the difference between the normal VAT on sales and VAT Purchase. How would we go about doing this?

Example:

Buy Inventory: 11.40 VAT inc
VAT Purchase: +1,40 (%14 VAT)
Sell Product: (1 to 1 sale) 34.20
VAT on sales:+4.20

REPORT:
VAT on Sales:4.20
VAT Purchase: 1.40
VAT Output:2.80

There was a a lot of talk for tax on recieving on this topic:
Inventory Purchase Improvements

I can’t find any further updates after this discussion on the topic though.

2

There are no updates regarding Tax on Inventory Items. It does not yet exist.

I would really like to see that feature added as well.

Other things like Item Barcode and Custom Tags would be a huge benefit as well.

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