Purchase (Cost) pricing without VAT-Taxes

[PieterH]

In our retail shop we are used to choose a selling price including VAT, but a purchase (Cost) price without VAT. Is this possible in Loyverse? 

 

When we set the Taxes to "Added to the price", we have to enter selling and purchase price both without VAT. The margin calculation is correct, but is not practical because we want to have rounded selling prices.

When we set the Taxes to "Included in the price", we have to enter selling and purchase price both including VAT. The margin calculation is still correct, but this is not practical because our suppliers give the prices without VAT. 

[ilih]

I tried to tell them this a while ago but unfortunately Loyverse wants it this way.  The response i got was that some countries dont have VAT, some have different rates etc, so to make things easy i guess they just want you to enter the amount with all your local taxes. I do manually adding of VAT in the cost price.

[PieterH]

Anymore people interested in this? 

[Roddy]

I'm interested in this. I don't see how it would be to difficult to have it so that if the product has vat on it loyverse would automatically add that percentage onto the cost price.

It's the amount of small details like this and the unwillingness to do anything about them that puts me off loyverse.

[steliosk]

Im so happy that Ive found your app! Havent needed help until now and this is the first flaw Ive found so far.  vat is not a cost so adding it to the cost columns is counterintuitive... 

Best way would be to subtract vat from retail price before doing the margin calculation this way we have best of 3 worlds

1 retail prices with vat included

2 cost price with no vat 

3 correct margin % !!!

please fix or include an option

[Guus]

Do I ad the cost value of an item with or without VAT?

[Tap]

I think you add the VAT to the cost. Appears that way when you look at the margin % anyway.
 

Would be very handy to have it an option to be automatically added though

[Mark72]

I am new to this software and app and chose it because of the fact that I could see profit margins per sales item, however this is not helpful as it is wrong.

I run a restaurant business in the UK and therefore most of the food ingredients that I buy are zero rated, and I have loaded them as such.  When I sell the finished dish though the price includes 20% VAT that I need to pay to HMRC, however the profit and profit percentage calculation works from the gross selling price, not the net selling price.  I cannot load the selling price excluding VAT as rounding then sometimes makes the selling prices wrong.