Getting VAT to round up or down

[jo_longley]

Hi - is there any way to get the VAT to round up or down to a whole number?

I'm inputting a figure like £19.00 and getting £22.33 as the final price which looks silly.

Please someone tell me i don't have to work all the stock values backwards!

[jont]

Unless you have VAT exempt products you need to enter the ex-VAT price into Actinic.

If you already have the selling figure in a format such as Excel you could set up a simple equation to divide the inc VAT price by 1.175 to give the ex VAT price.

Rounding is a often discussed topic on here with it sometimes rounding up or down past the "nice" sales friendly figure you need. There are different type of VAT rounding you can experiment with to try and get a nice rounded value

[NormanRouxel]

It's painful to do but the only way to get certain inc VAT prices is to use the Custom Tax feature to separate the Tax value from the calculated one. So you'll probably be a penny out compared with what the Excise would like but no-one is likely to notice that.

[Jan]

Norman is right, but if you do this be careful because you can get unusual output on the reports.

Regards,

[jo_longley]

One for the Wishlist

I think it's a bit mad that software that is designed to sell products to the consumer requries you to put VAT exclusive figures in.

Can someone PLEASE write in an option so that you can put a VAT inclusive price for the cost and actinic work it backwards for you.

It's a nightmare!

[jo_longley]

Solution (kind of)

If anyone is interested - below is a formula to calculate VAT exclusive prices

x = VAT inclusive price (round number)
y = VAT amount
z = amount before TAX

y - (y/47 x 7) = z

Example:

117.50 - (117.50/47 x 7)

117.50 - (17.50) = 100

It still gives you the odd penny out - put it's handy to put into a spreadsheet if you have one!

Excel formula would be =Y-((Y/47)*7)

[jont]

If anyone is interested - below is a formula to calculate VAT exclusive prices

x = VAT inclusive price (round number)
y = VAT amount
z = amount before TAX

y - (y/47 x 7) = z

Example:

117.50 - (117.50/47 x 7)

117.50 - (17.50) = 100

It still gives you the odd penny out - put it's handy to put into a spreadsheet if you have one!

Excel formula would be =Y-((Y/47)*7)

or.. as per post #2 divide the inc vat price by 1.175

[jont]

that works mathematically as the .175 is the VAT divided by 100 (for the precentage) and the preceeding 1 is because the VAT element is already a constituent part of the calculation