VAT Calculations

[kevgray]

Hi,
I've noticed that I can't get my VAT to calculate accurately.

I have a selling price of £59.99 and I've worked out that the ex-vat price is £51.05. When actinic applies VAT the selling price is displayed as £59.98 !!

If I then add a penny to the ex-vat price (£51.06) then the price is displayed as £60.00 !

Is there any way of 'fixing' the final inclusive price to display exactly what I want.

Thanks
Kev Gray

[jxm28788]

Not sure if there is a way of fixing it, but my calculator agrees with actinic -

£51.05 + VAT = £59.98
£51.06 + VAT = £60.00

But that doesn't really help you if you want a price of £59.99...:)

Will actinic let you set a price of 51.055? and if so will it display it as such or round it to 2dp? will your site display the ex-vat prices?

[kevgray]

Thanks John, i've tried entering £51.055 which it will let me, but then seems to ignore the extra .005 and the result is the same.

If I put the same calculation into EXCEL then the result is correct, so it must be the way actinic calculates - does it only use 2 dec places ??

[Jan]

There are several calculations options for VAT rounding, they are set on 'View | Business Settings" on the tax tab. Try the different options to see if that helps.

If not the only way around this is to use custom tax, this allows you to enter a tax amount - the side effect is that Invoices will show custom tax at potentially odd rates.

Regards,