Calculate the net amount from the gross

This explains how to enter transactions when you only know the gross amount (including VAT).

Other receipts and other payments

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

This is useful when you want to categorise a sale or an expense to more than one , but only know the total amount including VAT.

For example, you buy petrol and some milk for the office from the petrol station. The total receipt is for 82.80. When entering the payment, you need to break it down across 2 lines, one for the petrol 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 VAT rate is correct.

  7. Delete the Net and VAT amounts.

  8. Tab to the Total and enter the gross amount. Tab again or press Enter. We update the Net and VAT amounts for you. In our example, we enter a line for the petrol and enter 82.00 in the Total.

  9. 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.

Quick entries

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

This is useful when using the quick entry options and you only know the gross amount of the sale or purchase.

  1. From Sales or Purchases, choose Quick Entries.

  2. Enter the details such as the customer or supplier and description.

  3. Make sure the VAT rate is correct.

  4. Tab to the Total and enter the gross amount. Tab again or press Enter. We calculate the Net and VAT for you.

Sales invoices

If you use products and services, you can set a VAT inclusive sales price on individual product or services, allowing you to calculate the net from the gross amount.

Set VAT inclusive sale prices on products and services

  1. From Products and services, choose an item from the list or select New item to create a new one.

  2. From the I sell this item section, enter the sales price and then select the Includes VAT? check box.