Reduced VAT. Can I globally re-price my products?

[pyknicpie]

Hi,

The Chancellor has announced a reduction in VAT to 15% from Monday.

Is there a method in Actinic to globally reprice all my products that currently include VAT at 17.5% so that, when scanned, the lower price is displayed?

I guess this will be an issue for a number of Actinic users?

Please let me know if you have a solution.

Kind regards
Nick Pye
Pen and Paper

[fergusw]

Hi Nick,
There are several ways of doing this.
Read this thread here for a way to do this via CSV (excel) imports and exports.

There are plugin tools available as well from some partners that can perform this kind of function on your Actinic site.

[Darren B]

I dont know about EPOS though, Can this be done Fergus

[calljj]

Is there a method in Actinic to globally reprice all my products that currently include VAT at 17.5% so that, when scanned, the lower price is displayed?

Do some of your products not include VAT? If so then a little more tricky but not a problem if you've noted this by using the appropriate sales tax code i.e any products which have VAT use "s" in your tblproduct.

I've already written a program that goes through, adjusting the retail, region, online etc pricing within EPOS to adjust for only 15%.

Because i sell items from 1.99 - 1999.00, i'm considering adjusting only the values of the RRP figures over a certain amount, i.e probably over £50 (about £1 difference)

There is also the option to round up to better figures for Selling - for instance if the product price was originally £299.99, then the new price would be £293.61 , hardly a glamorous figure.... so have the option to round up, to £293.99

Interested? Pm me.

Kind Regards

James

[fergusw]

I dont know about EPOS though, Can this be done Fergus

Helps if you read the OP !

[calljj]

What is quite interesting is that by changing the standard amount of VAT within EPOS, you could, if you like, leave your prices the same, and the EPOS automatically changes your profit margins to give you a larger profit too!

For example, change the standard VAT amount to 15%
(under "setup|option|Accounting")

If i had a product that cost me, say, £290 (ex vat) to buy, the RRP was £499, then at 17.5% Vat my profit was £135.

After changing to 15%, it has kept the RRP the same and changed the profit to £144.

So by changing the amount of VAT within the EPOS, EPOS changes the profit margin rather than the RRP price.

[calljj]

as a follow up to my previous two posts if you wanted to fully go over to the new VAT rate, you would actually have to do the above post first, in order to make sure your profit calc within epos was correct, then use a program or manually change () each price of each item down to the new rate.

[fleetwood]

I'm not an EPOS user, so this is just a general tip, which seems obvious to me, but may be completely inappropriate, as I don't have the software!

Isn't there a simple VAT table, where you simply change standard VAT from 17.5% to 15%? Thus all products with standard VAT added are automatically re-calculated by the system, without you needing to adjust everything.

With regard to the change in VAT rate, and the above post about higher profit rather than lower prices - I think this will be the majority view. I can't really see stores suddenly repricing everything in line with a 2.5% reduction. Most high street products use rounded pricing (£2.50, £2.99 or £3). A 2.5% reduction in VAT is unlikely to see everything repriced to account, which would result in prices like £2.92!

[Mark Evenden]

We are a pet shop / small garden product retailer and have decided to just alter the applied rate and keep the retails the same (SETUP - OPTIONS - ACCOUNTING)

OK people will moan and comment, but this is retail and it happens everyday anyway!

The reason I am not reducing my prices is because over the past 18 months or so we have been subjected to large frequent supplier cost increases which we have not always passed on in full. The result is a 1.2% drop in our POR% which is damaging come year end.

Also whilst EPOS will cope with the TAX change in an instant, I am buggered if I am going to print out 9,200 new shelf edge tickets, cut them and insert them, only to do it again in a year!

On our turnover, much of which is VAT free anyway, not passing on the decrease is worth about £30 a week to us.

[bikepedlar]

applying price change using flat file import

i have followed instructions to export site content to excel and i have changed the prices i need to change however when i'm importing the file back into actinic it requests that i map a field to section text so it knows where to put the products.

This is a step that none of the guides mentions what am i doing wrong?

[Duncan Rounding]

Uncheck Auto Generate Product References in Business Settings - Options before you import. You can change it back later if you wish.

All you need to change the price of a product using a flat file import is two columns.
One with the existing Product Reference, the other with the new Price.

If you still have problems then post an extract of the first few lines of your import file.

EDIT: above is for e-commerce not EPOS.

[pyknicpie]

Uncheck Auto Generate Product References in Business Settings - Options before you import. You can change it back later if you wish.

All you need to change the price of a product using a flat file import is two columns.
One with the existing Product Reference, the other with the new Price.

If you still have problems then post an extract of the first few lines of your import file.

When you talk about importing, are you still referring to EPOS or your e-Commerce application? I don't appear to have an import option in my EPOS software.

Nick

[Duncan Rounding]

When you talk about importing, are you still referring to EPOS or your e-Commerce application? I don't appear to have an import option in my EPOS software.

Nick

My post above refers to e-commerce not EPOS - sorry for the confusion.

[Light&Sound]

How do you export to CSV in Epos?
I don't have an e-commerce link so I can't do it there either.
I did just change my global VAT figure and it kept my sell prices the same and adjusted the profit margin. This is great as I was considering putting up prices as I have not adjusted mine all year but this does not help when we sell item from the manufactures price book as these prices exclude VAT and then when I apply VAT verbally to my customer it will not be the same as my till receipt!
Can anybody help?

[adrian242]

just do it the hard way like me :-
2 calculators 1 with VAT set at 17.5%, 1 at new rate at 15%
then i removed the vat of product , then added the new VAT with the 2nd calculator
Only took 1 1/2 days only 1800 lines to change,

But also a good way to find those items you dont sell any more

WISH the EPOS was the same at the Actinic E-commerce software as it only takes 30 seconds + a re-freash to change the web site prices.

EPOS needs a pre vat price then the system just add the correct VAT as you have set, then that goes into RRP and or Region 1
i.e just like the web sites.

P.S i dont link the epos to the web sites