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Add the ability to calculate VAT on purchases automatically when you create a purchase, and see the net amount without VAT

Like many people, I find it incredibly hard to keep receipts, and in many cases we raise purchases on Kashflow just having the total from our bank statement to use. This means that to calculate VAT on purchases, we have to mess around with your separate VAT calculator to work out what the price was before VAT, so we can input it correctly. I have set up an Excel spreadsheet with this functionality, so it should be pretty easy for you guys to make this an option on purchases (I am no mathematical genius) - you could make it a choice to see the net VAT or not on a raise purchase, as obviously not all purchases have VAT. I've included a dummy spread sheet with the formulas which I put in to automatically break down the amounts, so you can see exactly what I mean. 

  • Guest
  • Feb 6 2019
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  • Guest commented
    12 Mar, 2019 04:42pm

    You can do this within a purchase already, I have to do it a lot too. Just type whatever the amount on your bank statement is into the 'Total' column on each line of a purchase with the VAT already set at 20%/0%/NA and it will calculate the other amounts for you. I've attached a screen shot for you to try and show what I mean. Hope it helps.