Calculate the net amount from the gross

Other receipts and other payments

Just enter the gross in the Total field and press Enter. We calculate the net and tax amounts for you.

This is useful when you want to categorize a sale or expense to more than one ledger account, but only know the total amount including tax.

For example, you buy gas and some milk for the office from the gas station. The total receipt is for $82.80. When entering the payment, you need to break it down across 2 lines, one for the gas $82.00 and one for the milk $0.80.

1. From Banking, open the relevant bank account.

2. Choose Sale / Receipt or Purchase / Payment.

3. Choose Other Payment or Other Receipt tab.

4. Enter the details including the total amount. In our example, this is $82.80.

5. Enter the details of the first line, including the ledger account and description.

6. Make sure the tax rate is correct.

7. Tab to the Total and enter the gross amount. Tab again or press Enter. We update the net and tax amounts for you. In our example, we enter a line for the gas and enter 82.00 in the Total.

8. Repeat for all subsequent lines. In our example, we add another line for the milk and enter 0.80 in the Total.

This also applies when entering a Refund for a sale or a Refund for a purchase.