Pos3/5/FNB: How to calculate Inclusive Tax & Service Charges?
Question :
I want to know how AutoCount calculate the amount of inclusive tax?
Solution :
1. For Item that have inclusive TAX:
(Item Amount / Total percentage) * TAX Rate = TAX Amount
(Item Amount / Total percentage) * 100 = Item Amount Exclusive Tax
Item Amount = RM 50.00
Tax rate = 5%
Total percentage = 100% + Tax Rate = 105
TAX Amount of Item (RM50.00)
= (RM50 / 105) * 5 = RM 2.38
Item Amount Exclusive Tax
= (RM50 / 105) * 100 = RM 47.62
2. For Item that have inclusive TAX and Service Charge:
(Item Amount / Total percentage) * TAX Rate = TAX Amount
(Item Amount / Total percentage) * 100 = Item Amount Exclusive Tax
(Item Amount / Total percentage) * Service Charge Rate = Service Charge amount
Item Amount = RM 100.00
Tax rate = 6%
Service Charge = 10%
Total percentage = 100% + Tax Rate + Service Charge Rate = 116
TAX Amount of Item (RM100.00)
= (RM100 / 116) * 6 = RM 5.17
Item Amount Exclusive Tax
= (RM100 / 116) * 100 = RM 86.21
Service Charge Amount of Item (RM100.00)
= (RM100 / 116) * 10 = RM 8.62
By: CK 20230807, Jacky 20230822, P230823 [000001]
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