Vat Calculation in Inclusive Vat Application of Oracle Retail Point of Sales
Hello guys,
I have a query regarding inclusive vat handling in ORPOS .., In Philippins, Vat is inclusive in item prices and comes from back end system.
I have to calculate the vat and vatable amount from the amount coming from back end. Vat percentage is also coming from back end.
For example if vat for one item is 12% and which is inclusive in item price.
If Item sku Price Vat %age
1234 100 12%
For other item vat is 10% and which is inclusive in item price.
4321 200 10%
It should be calculated like:
Vatable Amount for SKU(1234) -- (100*100)/112
Vat amount -- (100*12)/112
Vatable Amount for SKU(4321) -----(200*100)/110
I have a query regarding inclusive vat handling in ORPOS .., In Philippins, Vat is inclusive in item prices and comes from back end system.
I have to calculate the vat and vatable amount from the amount coming from back end. Vat percentage is also coming from back end.
For example if vat for one item is 12% and which is inclusive in item price.
If Item sku Price Vat %age
1234 100 12%
For other item vat is 10% and which is inclusive in item price.
4321 200 10%
It should be calculated like:
Vatable Amount for SKU(1234) -- (100*100)/112
Vat amount -- (100*12)/112
Vatable Amount for SKU(4321) -----(200*100)/110
0