How common is the practice of keeping price lists inclusive of taxes?

ERPNext Accounting
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1

When we generate an invoice, we want the price including tax to be a round figure. So, if we store the prices inclusive of taxes, can we make the Sales Order / Sales Invoice will reverse calculate the actual price of the item or will this require customization?

For example, price including tax of an item is 25000. So when the invoice is generated, it becomes 21186.44 for the item + 18% GST totalling to 25000 (and then do any rounding if required).

What’s the best way to handle this? Any advice is appreciated.

2

Hello,

Please refer to this:
https://docs.erpnext.com/docs/user/manual/en/tax-inclusive-accounting

You just need to check the “Is this Tax included in Basic Rate?” box. This can be done in your Sales Taxes and Charges Template or at the invoice level. Once this is done, the price list will be treated as tax-inclusive.

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