Pauldohert
Something in here
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- Today, 12:36
- Joined
- Apr 6, 2004
- Messages
- 2,101
I was under the impression that the tax man wnated VAT worked out on the invoice total for all lines for a particular VAT code.
So 2 lines at 5 = ie 10 pound total = 1.75 VAT
If you do it line by line you get
£5.00 = 88p VAT
£5.00 = 88p VAT
So invoice would have total of 10.00 and 1.76 VAT.
-So the two methods give differnat VAT amounts - and in this example the customer in my experiance wants to pay 1.75 VAT - cos they just do the calc at the end?
Does anyone have a link to which is the correct method - or any advice?
Should the lines be right - or the invoice?
So 2 lines at 5 = ie 10 pound total = 1.75 VAT
If you do it line by line you get
£5.00 = 88p VAT
£5.00 = 88p VAT
So invoice would have total of 10.00 and 1.76 VAT.
-So the two methods give differnat VAT amounts - and in this example the customer in my experiance wants to pay 1.75 VAT - cos they just do the calc at the end?
Does anyone have a link to which is the correct method - or any advice?
Should the lines be right - or the invoice?