Calculate the net amount from the gross
Description
Cause
Resolution

How to enter transactions

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

Other receipts and other payments

  1. Enter the details including the total amount. In our example, this is £82.80.
  2. Enter the details of the first line. Include the ledger account and description.
  3. Make sure the VAT rate is correct.
  4. Delete the Net and VAT amounts.
  5. Tab to the Total and enter the gross amount. Tab again or press Enter. We update the Net and VAT amounts for you.
  6. Repeat for all subsequent lines.

calc_net_1

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

Quick entries

  1. Enter the details such as the customer or supplier and description.
  2. Make sure the VAT rate is correct.
  3. Tab to the Total and enter the gross amount. Tab again or press Enter. We calculate the Net and VAT for you.

calc_net

Sales invoices

You may use products and services. You can set a VAT inclusive sales price on individual product or services. This allows 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. You can also select New item to create a new one.
  2. From the I sell this item section, enter the sales price. Select the Includes VAT? check box.
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Steps to duplicate
Related Solutions

Other payments and expenses

Record money paid into your account (Other receipt)