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?