Results 1 to 3 of 3

Thread: Quickbooks 2012 - terms and VAT bug

Threaded View

Previous Post Previous Post   Next Post Next Post
  1. #1
    Gold Member
    Join Date
    Mar 2012
    Location
    Vanderbijlpark
    Posts
    886
    Thanks
    83
    Thanked 381 Times in 298 Posts

    Quickbooks 2012 - terms and VAT bug

    Quickbooks 2012 users beware:
    If you use a terms code that contains a discount, Quickbooks discounts the VAT on the invoice. This means, besides under charging your customers, your VAT will be incorrect.
    As an example, if your terms code contains 2.5% discount if paid before a date, Quickbooks will calculate the VAT at 11.5% (14-2.5)

    Quickbooks SA and the developer are aware of the problem and will let users know once there is a solution.

    Whatever that means...

  2. Thanks given for this post:

    Dave A (08-Nov-12)

Similar Threads

  1. 2012 Tax Season opens 1 July 2012
    By geraldenek in forum Tax Forum
    Replies: 1
    Last Post: 30-Jun-12, 06:32 PM
  2. New Terms for old Things?
    By BusNavig8 in forum General Business Forum
    Replies: 8
    Last Post: 25-May-12, 10:42 AM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •