Frequent Explorer **
This widget could not be displayed.

Re: Subtotal + tax at 15% and tax with precise amounts

Hi, thanks for your reply.  In fact the problem is I need to integrate both the goods that are charged with tax at 15% and those goods that are charged with fixed vat amounts.  

 

For example I want to input 10 angle bars at $15 each and 5 bags of cement with cost price of $5 each.

10 angle bars at $15 each makes a total of $150 and then I have to divide the $150 by 1.15 because there is a vat of 15%.  By dividing I will get the subtotal plus the vat at 15%.  I dont know how to input this on QB?

Secondly, for the cement 5 bags of cement makes a total of $25.  But these are not charged at the rate of 15%.  The tax AMOUNT for 1 bag of cement is FIXED at $1.50 for example.  The vat amount for cement therefore differs from vat on angle bars.  The vat on cement will be $1.50 * 5 = $7.50.  I need to integrate both types of goods on a single invoice.  How to do this in QB?

 

Thanks.