I’ll just give the specifics.
I have a bill for $150. Tax is 7.375% bringing the grand total to $161.06
This is my 1st invoice ever.
This brings my “Net Profit” line to $168.44 and Less Liabilities says − $ 7.38
Where is Less Liabilities generating this amount from? And is the net profit of my “company” really more than the income I actually made?
You will need to show screenshots of what you see but it should be similar to this
Purchase Invoice - edit mode
Purchase Invoice - view mode
Summary tab - relative section
The only difference I see between us is you used a Purchase Order and I used a Sales Order…should that matter?
Screenshots…
All Zeroes
Create Sales Order
Sales Order Copy-To Sales Invoice
Receive Money
Final Numbers
No difference, just that when you said “I have a bill for $150” I assumed that you had received the bill, not sent the bill.
It would appear that the Sales Tax is a Custom Code created by you and that creation contains a setup error. Note how the Tax Payable balance is 7.38 which is 7.375 rounded.
It would appear that you may have ticked a flat rate tick box - untick it and what now occurs.
Otherwise post a screenshot of that custom tax code dialog panel.
Just an aside: Sales Orders are only required if a customer sends you an order, you don’t need to create one to create a sales invoice.
I BOW DOWN TO YOU SIR, THANK YOU!
It reflects perfectly now!
