Skip to content
View in the app

A better way to browse. Learn more.
Loyverse Town

A full-screen app on your home screen with push notifications, badges and more.

To install this app on iOS and iPadOS
  1. Tap the Share icon in Safari
  2. Scroll the menu and tap Add to Home Screen.
  3. Tap Add in the top-right corner.
To install this app on Android
  1. Tap the 3-dot menu (⋮) in the top-right corner of the browser.
  2. Tap Add to Home screen or Install app.
  3. Confirm by tapping Install.

Why does the tax rate calculate differently when I pull the "sales by item report"?

OB EPC POS
OB EPC POS
in Taxes

Featured Replies

Good Morning,

Our set tax rate is 6.5% for all our items. However, when we pull the "sales by item report" and calculate the tax rate it fluctuates.

Example: 2 items bought = $1.90 (Gross Sales) Tax = $0.12, Total = $2.02

When we calculate the tax rate for the sale it reflects a lower tax rate.

Example: $0.12 (Taxes on sale) / $1.90 (Gross Sales) = 6.316% 

Why are we not ending up with a 6.5%?

Solved by Gabbi

Go to solution
  • Solution

Hello! I think it is like this because 1.9* 6.5%=0.1235 but system rounds it and write only 0.12. Then when it calculates back you got different number: 0.12/1.9*100%=6.31578...%

Please sign in to comment

You will be able to leave a comment after signing in

Sign In Now
Go to topic listing

Account

Navigation

Search

Search

Configure browser push notifications
Chrome (Android)
  1. Tap the lock icon next to the address bar.
  2. Tap Permissions → Notifications.
  3. Adjust your preference.
Chrome (Desktop)
  1. Click the padlock icon in the address bar.
  2. Select Site settings.
  3. Find Notifications and adjust your preference.