Tax Field for Inventory Items

somilmittal · August 29, 2018, 8:56am

Dear Emre, and the most awesome SambaPOS Team,

I would request you to please add a Tax field for the Inventory Items in our Inventory module.

It will help us a lot as a lot of items have the rates listed exclusive of taxes in their invoices.

Also, the tax field will be of a great help for us, in calculating the Tax Component of our purchases, which will enable us to get a Tax Refund.

Please do consider my request.

Regards,

Somil

Jesse · August 29, 2018, 1:37pm

You pay taxes on what you buy? Do you also charge tax to customer?

Sorry im trying to understand what your wanting and why.

It may be possible to do already.

somilmittal · August 29, 2018, 2:11pm

Hello Kendash,

When I buy an item for eg: cooking oil, the purchase invoice would be as follows:

Cooking Oil - 1 Kg - Price: Rs. 200
Tax on Cooking Oil - Rs. 10
Total - Rs. 210

The 10 bucks is refundable from the Govt at the end of the month as per the Value Added Tax Regime.

So, if I had a field for Tax in Inventory Items, it will help in a lot of ways

Somil

Jesse · August 29, 2018, 2:24pm

I’m fairly sure we can automate that now. I won’t be able to look at it for a few days though.

markjw · August 30, 2018, 1:29am

This is the same way as VAT works in the UK, and likely same as all European countries.

For example in UK, you pay 20% VAT on what you buy from suppliers, you charge 20% VAT (included in price) to customers (some items though may also be 0% VAT). The difference you either have to pay to or get a refund from the government when you do your VAT return, typically every quarter.

I never had anyone ask about this before, but it does make sense. I guess it makes more sense if you are trying to use SambaPOS for all your accounts, which honestly I think most people don’t do and just leave VAT up to their accountant or accounts software.

Shivan · August 30, 2018, 1:31am

It’s like SambaPOS turning into an accounting software lol. All it needs now is Bank feeds and we no longer need any other accounting software besides SambaAccounting!

emre · September 2, 2018, 3:57pm

Create a Custom Inventory Item tag called Tax.

Define tax values

Purchase Items

Prepare Report

Sample Report Template

[Purchase Tax:1.4,1, 1, 1.1, 1.1]
>Item|Unit|Tax%|Total Purchase|Tax Total
{REPORT INVENTORY TRANSACTION DETAILS:
	T.Name,
	T.Unit,
	[IT.Tax],
	[T.TotalPrice.Sum],
	[($4*$3)/100];#.00
	:(ITT=Purchase Transaction Type)
}
>Totals
{REPORT INVENTORY TRANSACTION DETAILS:
	[IT.Tax],
	[T.TotalPrice.Sum],
	[($1*$2)/100];#.00
:(ITT=Purchase Transaction Type)
:{0}% Total|||{1}|{2}
}
>{REPORT INVENTORY TRANSACTION DETAILS:[T.TotalPrice.Sum],[([IT.Tax]*[T.TotalPrice]).Sum]/100 :(ITT=Purchase Transaction Type):Total|||{0}|{1}}

You can test it with latest release (5.2.12)