How to easily book a sales invoice with Peppermint, applying a tax rate to either Gross, Net or even Tax amount. The others will be calculated, rounded, and booked to accounts defined in the tax record (Tax code).
You need to create as may tax codes as you need, one code = one tax rate (%)
Example, we book a sales invoice to Customer "Mahana", for a net amount of 100 CHF, and 10% VAT.
Roundings are at the closest 5 cents.
Net amount : 100 CHF
Tax % 10%
We calculate :
Tax amount (payable to the tax authorities at tax period end) 10% * 100 = 10 CHF
Gross Amount (the client will pay to us) Net Amount + Tax = 100 + 10 = 110 CHF.
The booking will be
Debtors 110 (say debtors account 12000)
Vat -10 (credit, tax administration, tax payable (creditor)
Sales -100 (credit, Sales Account)
Say we create a tax code : 01
The Tax Detail for Tax Code 01 is :
Let us book the corresponding Sales entry
We Add a new entry, choose the sales journal, the invoice date, the voucher number, and click on +
After entering the amount of 110, we press the TAB key. Peppermint will complete the sales entry :
Click on Save to complete