Hi,
Hi Robert,
From what I understand, you want to use inclusive price on an item and
give a flat discount on it.
So to replicate your calculations, this is what I did.
-
Created Item ‘Scale’
-
Created Item ‘Discount’
-
Created Tax Account - ‘VAT @ 10’, with rate as 10%
-
Created an Invoice, entered Debit To.
-
In Invoice:
5a. Created a row in Tax table, of ‘VAT @ 10’, entered rate as 10 and
checked “included in print rate” (this is for inclusive pricing on all
items in the item table)
5b. Created a new row in Item table, Item Code: ‘Scale’ with basic rate as 11
5c. Created a new row in Item table, Item Code: ‘Discount’ with basic rate as -1 -
Save and Submit the Invoice, after filling in all the other
mandatory fields like Income Account and Cost Center. -
To check the tax exclusive price, click on View Ledger.
I have attached the invoice and ledger for your reference.
I think this covers your scenario.
i.e.
if Item rate is 11 inclusive of tax and you give a flat discount of 1,
then your net total should be 10.
your tax exclusive price should be (11-1)/(1.1), i.e. 9.09, as seen
from the ledger.
your tax should be (1 - 0.09) = 0.91, as seen from the ledger
I hope you find this workaround acceptable.
Please reply to this email if you have any other queries.
Thanks,
Anand.
On Wed, Jun 6, 2012 at 7:50 PM, robert be...@gmail.com wrote:
Hi,
I have been experimenting with the taxes, since I am not completely
satisfied with the current handing.I believe the situation where a discount is given to the VAT inclusive price
is not uncommon.
Consequence of this is that VAT needs to be adjusted.Product AAA has a net price of10 and VAT of 10% thus 1
So sales price is 11 and VAT 1Now give a discount, of 1 so discounted sales price is 10 and the
VAT-exclusive price on this 10/1.1= 9.0909 and the VAT 0.909.How to implement this in ERPNext??
rgds robert
This is an interesting work around to create “discount items”. Let me study this solution and than I will come back, thanks, robert
On Thursday, June 7, 2012 8:01:08 AM UTC+2, Anand Doshi wrote:
Hi Robert,
From what I understand, you want to use inclusive price on an item and
give a flat discount on it.
So to replicate your calculations, this is what I did.
1. Created Item ‘Scale’
2. Created Item ‘Discount’
3. Created Tax Account - ‘VAT @ 10’, with rate as 10%
4. Created an Invoice, entered Debit To.
5. In Invoice:
5a. Created a row in Tax table, of ‘VAT @ 10’, entered rate as 10 and
checked “included in print rate” (this is for inclusive pricing on all
items in the item table)
5b. Created a new row in Item table, Item Code: ‘Scale’ with basic rate as 11
5c. Created a new row in Item table, Item Code: ‘Discount’ with basic rate as -1
6. Save and Submit the Invoice, after filling in all the other
mandatory fields like Income Account and Cost Center.
7. To check the tax exclusive price, click on View Ledger.
I have attached the invoice and ledger for your reference.
I think this covers your scenario.
i.e.
if Item rate is 11 inclusive of tax and you give a flat discount of 1,
then your net total should be 10.
your tax exclusive price should be (11-1)/(1.1), i.e. 9.09, as seen
from the ledger.
your tax should be (1 - 0.09) = 0.91, as seen from the ledger
I hope you find this workaround acceptable.
Please reply to this email if you have any other queries.
Thanks,
Anand.
On Wed, Jun 6, 2012 at 7:50 PM, robert <be…@gmail.com> wrote:
> Hi,
>
> I have been experimenting with the taxes, since I am not completely
> satisfied with the current handing.
>
> I believe the situation where a discount is given to the VAT inclusive price
> is not uncommon.
> Consequence of this is that VAT needs to be adjusted.
>
> Product AAA has a net price of10 and VAT of 10% thus 1
> So sales price is 11 and VAT 1
>
> Now give a discount, of 1 so discounted sales price is 10 and the
> VAT-exclusive price on this 10/1.1= 9.0909 and the VAT 0.909.
>
> How to implement this in ERPNext??
>
> rgds robert
>
>
>
>
>
>