How to create two tax value with one invoice

As per the indian system invoice rising two different tax formula (total amount + 12.5% + 5%) , like witch i attached screenshot .

How to make like this .

The picture is not clear, please do it on a spreadsheet and upload and then we can comment

This i want how to make it.

Your situation is a bit different
From what i see, the second tax is calculated on the summation of the tax exclusive amount and the first tax.
You can create as many tax codes in manager and the tax codes can have 2 or more component, but all will be calculated on the tax exclusive amount. I don’t know the laws in india but from your picture it looks like “Tax on Tax” to me.
At the moment, Manager cant be programmed to base some tax codes on sub totals of some tax codes and the tax exclusive amount.

So the way forward I will suggest is, create some liability account and call is “Rate Of Duty 12.5%” and when raising invoices or receipts put the “Rate of Duty” right under the list of items or services (calculate and put the right amount there) then you will go ahead and select State Vat tax code which will base the rate on the summation of the tax exclusive amount and the "12.5% rate of duty. That’s the best you can do for now.

I stand to be corrected

I did n’t understand the steps how to do ? But i am expecting this .

Well manager has room for only one tax at a go. Check again if the second tax is calculated on the tax exclusive amount, then just create a componentized Tax code.

If we creating componentized Tax code it wont get real value .

I am sure the Rate of duty of 12.5% is an expense and you won’t use it in computing any tax liability (from the picture just above). If so then it an expense and therefore create an expense account called “Rate of duty 12.5%” or “Duties and taxes expense” and add it to the lines and put the amount there. Am I making sense please?

Thanks

This is an excellent software I really appriciated all the hard work done by the company.
I have a very same situation I am using this software in India where Excise duty is 12.36% and VAT is 5%.
So I here is how the calculation goes
Total Amount of Goods = Rs. 10,000
Total Excise Tax on Goods is Rs. 10,000 + 12.36% = (Sub Total 11,236).
Now VAT is Added on SubTotal that is 11,236 + 5% = 11,797.8

So now what are option for me.

  1. How can this be done under this software.
  2. I have read previous comments where you suggested to make liability account but as I am a new user could you please guide me how to make liability account under name Excise duty.

Thanks,

Your best option is to create a Test Company, read the guides and try and duplicate the example illustrated by creating transactions. I think you can ignore the liability account as that was an earlier suggestion - start from where the below comment is and work down. To create the expenses account go to Settings - Chart of Accounts

" I am sure the Rate of duty of 12.5% is an expense and you won’t use it in computing any tax liability (from the picture just above). If so then it an expense and therefore create an expense account called “Rate of duty 12.5%” or “Duties and taxes expense” and add it to the lines and put the amount there"

Not knowing your experience with Manager with regards to Suppliers, Purchase Invoices and Chart of Accounts etc, makes it very difficult of where to start in answering your questions.

1 Like

To create accounts of any nature (Asset, Expense, Equity, Liability, Revenue).
Go to settings and click on chart of accounts. If the account you are about to create is a balance sheet item, go to balance sheet and click on New Account. Type in the name of the account select a group for it and click on create.

If it a Profit and Loss item click on New Account under Profit and Loss and do the same as above.

You can now bring the liability account as a line item in the invoicing stage ***(am assuming you are the seller)***.
you have to calculate manually and put the amount there. After all that select your Vat tax codes.

Now your invoice will look like this

I am really hoping this will help. Manager at the moment doesn’t have the feature you want ( calculating 2 two subtotals before adding VAT and then calculating Grand Total)

Correct me if am wrong