I have a problem in getting the 5 % tax for a restaurant
The 5% of 30 is 1.5 while the program count it as 1.43
I need to have a report too to the item nam, item price , tax and total price
The tax is not calculated to with the total
Thanks
Show your tax configuration you can hit print screen then paste directly into the text box of your forum post.
Hi, you have set the tax to be included and thus not calculated as 30 x .05 = 1.5. Also, check your rounding, I believe this needs adjustment. Bottom line, you need to set the product price as final for UAE, as per regulation. Therefore, increase the price if you want customer to cover cost.
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So many people getting this wrong. The standard legal formula for calculating tax included is:
Price / (1 + %tax )
So your example would be 30 / 1.05 which is 28.57 cost and 1.43 tax.
So like @kmelas said you need to raise price if that’s not what you expected.
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@Jesse that is another pound in the explaining how to calculate tax kitty 