New Receipt - Tax settings not working whatsoever

1

I have created Tax codes as per Indian laws. I have created a capital account for the tax payable. The tax codes are linked to this account. Now I am trying to record a receipt. I select the appropriate tax code but it simply doesn’t work. Check image

1
1846×483 39.3 KB

It doesn’t matter if I select tax inclusive or tax inclusive.

2

Can you show edit screen of the tax code you have created?

3

Your tax liability account should not be a capital account. It should be a Liabilities account. See the Guides:
https://www.manager.io/guides/10388
https://www.manager.io/guides/8901

4

Thank you for responding. It is a liabilities account only. I casually refer to accounts on the liabilities side of the balance sheet as a capital account. Sorry for the confusion. My mistake.

5

Will share it tomorrow from office. Regards!

6

Good day. I need some help with showing VAT on receipts. The invoice shows the VAT amount however when I create a receipt the amount including VAT is totalled and does not show the VAT amount. Our clients insist on the VAT amount being shown on receipts. How can I achieve this? Clicking Tax exclusive on Show Tax amount column has no effect on the total figure.

7

Clicking Amounts are tax inclusive causes the Tax Amount column to appear but there is nothing in it so my Amount is still the same as my total.

image
image1467×647 23.4 KB

8

And my receipt does not show the tax amount.

image
image950×190 3.5 KB

9

The VAT is accounted for on the invoice. That is why it does not appear when receipting to an invoice -otherwise it would be charged twice

10

Why cannot the receipt show the same breakdown as the invoice?

11

Although I see where you are coming from re VAT being charged twice. :thinking:

12

I may have to contend with my clients on this one.

13

You will notice that the relevant invoice will now state Paid In full. So you can send that Invoice to the customer as evidence it was paid with all the details.

14

This seems to indicate that it can be done, however

image
image1271×445 44.3 KB

15

How can I get the above done? :point_up_2:

16

Just posting the link I found this on. Choose between tax-exclusive and tax-inclusive prices | Manager

18

If you are recording sales using a Sales Invoice, then the VAT is shown on the sales invoice. It cannot be included in the receipt of the payment from the customer. Including the VAT again would result in accounting for the VAT twice

If you are recording sales using Receipts, then you record the VAT on the Receipt

19

ok noted