Prices inclusive of VAT

[Deborah]

Hi,
I was told that in the next major release of Actinic, that being version 7, we would be able to input the product prices inclusive of VAT and that Actinic would work out the VAT instead of the usual way in which we work out the VAT and put in the price minus it. So the usual scenario of £2.99 becoming £2.98 or £3.00 would not happen anymore. This was promised in the next major release which I presume this new version 7 is? I can't find how to do this in the new version, please tell me that I've just missed the obvious and not that you haven't implemented this yet in the program.
Many thanks

[Jan]

Sorry Deborah but it doesn't seem to be there.

Maybe it is impossible to do - if you can't manually make a figure that with 17.5% VAT included is equal to £2.99 (I expect that you can for that figure but there are some where you cannot) then it is unlikely that the program can without increasing the number of decimal places for internally stored prices to 3 or 4.

Regards,

[cdicken]

This was one of the features that we were investigating right at the beginning of the development process for v7, but it had to be dropped fairly early on as it was not possible to implement in the time we had.

Sorry for any confusion.

[party_pete]

Have there been any further developments regards to achieving a listed price inclusive of VAT within actinic of £2.99 (not £2.98), £3.99 (not £4.00), etc, etc??

[jxs97s]

The handling of VAT is, in my option, the worst feature of Acitnic.

The only way we have found to do what you want is to completely turn off VAT and enter the prices into Actinic as VAT inclusive. Then the product price can be anything you want.

This does cause us a few of problems:

1) The customer can't see the VAT during the checkout process. However, insofar as I am aware, there is no legal requirement for them to do so (after all, supermarkets don't show net price on the shelves and restaurants don't show net prices on menus). This shouldn't be a problem so long as you are selling to consumers and not businesses.

2) The invoices Actinic produces are useless as obviously they don't show VAT. You would therefore need to create your own invoices. Insofar as I am aware, you only need to give the customer a VAT invoice if they request it so in theory you will only need to manually create a few invoices.

3) I don't integrate Actinic with Sage but I imagine that if you do, you will need to make some manual entries at month end in order to debit revenue and credit VAT.

Fundamentally, Actinic doesn't handle VAT well so you need to decide whether the Actinic way or my way is quicker and easier. The answer will depend on the type of business you run.

[brian.mc]

This was taken from Customs & Excise VAT website

"If you mainly sell direct to the public you do not need to issue a VAT invoice unless your customer asks for one. But if you are asked for one, and the supply including VAT is worth £100 or less, you can issue a less detailed VAT invoice showing only:

* Your name, address and VAT registration number
* time of supply
* a description identifying the goods or services supplied
* charge made including VAT: and
* rate of VAT

You do not have to keep copies of any less detailed VAT invoices you issue

You will find more about less detailed VAT invoices in Notice 700 The VAT Guide"