hello,
i have problem with the calcullation of the tax.
for example the price of a product is 7 euro.
the tax is 12%.
they calculate the tax 0.75 euro.
when i check the ticket, is the price 7, taxable amount 6.25, and tax 0.75.
so they calculate the tax from 6.25.
because how come the it to 6.25 ?
Are you including tax in price? How did you setup your tax?
Ok so that means if you want it to be calculated from 7 then you need to price it accordingly. You would set your price at 7.84
because why 7.84 ? 7 euro is included tax
12% tax on 7 is 7.84 roughly not rounded.
Yep nothing wrong with it… its correct.
i will that he calculate to 0.84, because they calculate to 0.75
If you set your price to 7.84 it will.
because the price is 7 euro included tax.
how come he to 6.25 ?
because 6.25 is the other 88%.
12% of the price is tax and 88% is not tax.
EDIT: Ignore this part it was misleading. Look at my last post for real answer.
It is also rounding.
The proper way to calculate sales tax included.
Calculate the sales price of an item where sales tax was included in the price by dividing the price the customer paid by 1.0 plus the sales tax rate. For example, if the tax rate is 7.0 percent and you sold an item for $100, sales tax included, divide the $100 by 1.07. The result will be a price of $93.46 and sales tax of $6.54.
7 divided by 1.12 is 6.25
Its not 12% of 7 if you want 12% of 7 then you need to uncheck tax included.
Did you read what I said above… your not calculating tax included correctly. What i Stated above is the correct way to calculate tax included.
Calculate the sales price of an item where sales tax was included in the price by dividing the price the customer paid by 1.0 plus the sales tax rate. For example, if the tax rate is 7.0 percent and you sold an item for $100, sales tax included, divide the $100 by 1.07. The result will be a price of $93.46 and sales tax of $6.54.
So SambaPOS is calculating it legally correct.
So you decided to charge more than 12% but you tell your customers its 12%?
