VAT/GST POS returns

[Iain Fogg <ia...@westnet.com.au>]

Something I learned tonight...

In order to correctly calculate and account for tax (GST/VAT) when 
processing a return via the POS application, you need to make sure the 
min_item_price and min_purchase be null. If you set these to 0.00, the 
tax processing logic will happily skip calculation for a return since 
the values are negative, and your tax GL account won't get credited 
appropriately. Furthermore, the POS application won't report any tax 
component and the customer will not get reimbursed for the tax he paid 
when he bought the product.

Not sure of this is relevant outside GST/VAT environments

Cheers, Iain


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Re: VAT/GST POS returns

[Jacques Le Roux <ja...@les7arts.com>]

Thanks for that point Iain !

Jacques

> Something I learned tonight...
> 
> In order to correctly calculate and account for tax (GST/VAT) when 
> processing a return via the POS application, you need to make sure the 
> min_item_price and min_purchase be null. If you set these to 0.00, the 
> tax processing logic will happily skip calculation for a return since 
> the values are negative, and your tax GL account won't get credited 
> appropriately. Furthermore, the POS application won't report any tax 
> component and the customer will not get reimbursed for the tax he paid 
> when he bought the product.
> 
> Not sure of this is relevant outside GST/VAT environments
> 
> Cheers, Iain
> 
> 
> -- 
> No virus found in this outgoing message.
> Checked by AVG Free Edition.
> Version: 7.1.407 / Virus Database: 268.13.1/466 - Release Date: 7/10/2006