Exact VAT pricing

[WongP]

An earlier thread related to a problem whereby Actinic would calculate the taxprice by rounding up the figure a penny over (or a penny below) the correct selling price. e.g £80.00 instead of £79.99

I have overcome this problem. Simply divide your selling price by 1.175 to get the ex-vat figure and enter the first five digits of your result as the product price.

e.g to get £79.99 exactly, I enter £68.0765

Hope many will find this useful to know.

[NormanRouxel]

I'm not sure that this will work in all cases.

Actinic stores the price internally as an integer number of pennies and rounds the entered value down to the nearest penny. This granularity is too coarse for all VAT calculations to be precise.

Indeed, when I tried your example Actinic displayed the 68.0765 as 68.07 on the product page and stored 6807 in the ActiniCatalog.mdb database. Previewing the product page showed a product price of "Price: £79.98 Including VAT at 17.5%". I was using the default Round Line Scientific Method for the VAT calculation.

Norman

[Jenny]

I find that calculating what the price would be and adding the vat to the custom tax field and removing the 17.5% from the vat statement also works.
Jenny

[WongP]

Thanks for your responses. In answer to Norman's posting, you are indeed correct, however I forgot to mention that I was using the 'Round Item Up' Tax Rounding, which seems to work for me ... so far anyway!