Is there any way that the tax can be edited? Reason is that we are capturing an amount of a slip (not an invoice) but paid from business - some of the items have tax some is tax free (like the bread and milk) but we do not capture every item on the slip, just in general as cleaning products, or consumables. Obviously the tax amount is different on the slip as on our purchase invoice - should I then load every item? Just seem so unnecessary for things that is not part of the inventory.
Thank you Joe, I am very clueless to all this accounting stuff, manager has made my life so much easier but I feel utterly clueless when I can’t change something.
Then your suppliers may be giving you illegal tax invoices. I know of no tax jurisdiction that does not require indication of which line items on an invoice are subject to which tax. The amounts shown might be inclusive or exclusive of tax, but everywhere I know about the applicable rate must be shown.
It is not supplier invoices, it is slips from retail stores (pick ‘n pay and checkers)…… Till slips but it is still logged as you paid it with the company card and it is for the company… Normal slips – not supplier invoices.
All the more reason the “slips” will have the tax shown. I am not referring to a credit or debit card charge slip, but to the receipt with line items that comes from the cash register. There is no possibility a major chain store would be giving you documentation without this information.
I do not see any issue. Your example is a tax invoice on which a single rate is shown, which therefore applies to all items on the invoice. If you have non-business items, straight apportionment is appropriate. A better solution would be to segregate your purchases.
Regardless, you have not shown an example where tax applied to individual items is unclear.
If you use a tool like https://vatcalconline.com then you will see that the calculation of VAT 15% included in the total gives the correct amount as per Shoprite receipt, i.e. 111.89:
