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Reply from Roy B on Jun 27 at 3:03 AM If you are actually paying 1,000 then the tax calculation is correct as $862.07 plus tax of $137.93. 1,000 + 16% tax would be 1,160 and your document would not balance. Think about it this way. How much money is actually going out the door? 1,000 right? From that you have to deduct tax and account for $862.07 to the vendor and $137.93 to the taxman. This will be offset against the invoice when it arrives later.
Regards,
Roy
| | | ---------------Original Message---------------
From: itrevino
Sent: Wednesday, June 27, 2012 2:45 AM
Subject: Different Tax Calculation
Hi everyone,
Hope someone could help me, I'm having trouble with tax calculation for customers because when enter a down payment request. I enter the amount (i.e: $1000), the tax code (which is the 16%) and then select the checkbox for "calculate tax", then when I post the document the amount is modified because instead of $1000 plus tax of $137.93, the system is displaying $862.07 plus tax of $137.93
The thing is that for the other company (which is on different server) the calculation is ok and I have an amount of $1000 and a tax of $137.93, but for the company which I'm trying right now is showing the amount of $862.07 and tax of $137.93. I have search all the tax configuration and couldn't find anything different between the two companies. Can someone help me? |
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