Can the software be altered to allow VAT inclusive prices when im working out invoices. (i.e just show breakdown at very end)
I advertise my hourly rate at £35 (Inv Vat) but it look rater silly with £29.17
also when i use the above 29.17 then double the hours worked from 1 to 2 and add VAT due to quickfile only have 2 decimal places the invoice now comes out at £70.01
is there a way around this
According to the HMRC each item should have VAT individually displayed.
My invoices mainly show labour rates.
2x £35 do not equal £70.01
Well, can’t disagree with that part of it.
@Stephen_Blakey We’re in the process of testing overridable VAT amounts on sales invoices. This will allow you to independently change the NET and VAT amounts per line to get the exact figures you need.
This feature is being tracked on the following thread. I would recommend watching this thread for updates, it should be ready in approx. 1-3 weeks.
I can now confirm that VAT amounts on sales invoices can now be overridden. You can find more information on this feature by clicking the link below:
what would also be HANDY is on the same line a TOTAL showing Price+Vat together. rather than seperate
at the minute to double check COMBINED amount is i need to flick to invoice preview which generates the total
Continuing the discussion from VAT inclusive invoicing:
I have just raised an invoice and I knew the total amount that I quoted and it was a gross figure so with this thread in my mind I went ahead and tried to enter the gross total on the invoice. Turns out this isn’t what the feature does so this thread is not actually implemented. I still need to get the calculator out to raise an invoice using a gross figure as the starting point, unless I’m missing something.
Apologies this thread was closed, I’ve now reopened it.
I have a feeling that this is not an easy fix but I will discuss with our developers to see what can be done. It’s regrettably not going to be something that we can look at in the near term.
Perhaps not the ideal solution but it may help for now…
When using the bulk invoice entry form you can input the gross amounts on the far right hand column and it will work back to the NET.
You can create just one invoice using this method then edit further if needed.
That would work. It’s not all that often I need to do this, usually I deal with nett pricing so it is all simple enough. Occasionally I drop myself in it and verbally quote an exact gross figure so have to stick to it!
Thanks for the pointer.
so i can type in the total amount and it will work otut eh net and vat?
Tried this in test invoice you can not edit total amount, wha ti liek to see is you can type in net amount say £100 and it gives total of £120 but to also type into total amount £120 and it gives net amount of £100 is wha ti meaning understandable?
Yes I understand, it’s the subject of this entire thread. I.e. entering gross on the line item calculates the net automatically. If you want full control of the gross amount refer to the recent update here.
Gross to NET can be done from the multi-invoice screen only.
Can that feature not be added to single invoices? as multi invoice does not really give the ability to do item name or is this customizable?
or maybe this could be links to in reverse to invoice with detail breakdown? as it the breakdown my customers look for, but the gross amount i rather put in, reading that one post i understand why ti is a problem because of quantity but to me the easiest way would be to make it round up eh VAT amount such worse case you are over paying VAT rather that not paying the right amount ie underpaying
The problem of going gross to net is the rounding problems with multiple quantities. When you deduct the VAT and divide through the qty, the resulting amount may go beyond 2 decimal places. Then when you round this down and multiply the other way you’ll get a different result. Also it means adding another column to the itemized section which is already very cramped.
Why round down? it be simpler to round up
Let me have a play with it if i can generate some code then you might be able to pass the crude code onto the developers to potential do it, only becomes a problem when quantity is above 1?
Gross 360 quantity 3 divide gross by 3 gross 120 remove vat net 100 that sort of example is simple i assume but if you change it to gross 300? it becomes a problem?
I meant round to 2 places, not down specifically.
You wouldn’t divide the gross by 3, you would NET off the VAT first then divide by 3.
I will play about with it see if i can come up with some code
Thanks for the info on multi-invoicing workaround for this gross to net calculation on sales. This was another sticking point for my boss in moving from her old system, as she needs to enter cash register sales, and only has a breakdown of gross VATable sales and non-VATable sales, which left her having to pull out the calculator to enter her daily register figures.
I’d still like to see this on the standard invoice entry, if you come up with a resolution to that particular point.
Fairly simple calculation i thought i be complex, to calculate vat it gross/(1+ vat amount) * vat amount. for net it is gross/(1 + vat amount), to get the net individual amount if quantity is above 1 you divide the figure by the quantity.
tested it and it works fine