VAT
Pierre2020
Member Posts: 7
I am using Wave in Switzerland. I created an invoice, the sales price includes the 7.7% VAT. I do not manage to have the VAT shown at 7.7% of that total amount .
Concretely a sales price of 300 CHF, should show a VAT amount of 21.45 CHF, and a pre-VAT price of 278.55 CHF. How do I need to declare the sales tax to achieve that?
I have the same question when producing an estimate.
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Comments
Hi @Pierre2020 . You'll have to change the amount of the product that you're selling. When adding a Sales Tax to the invoice, it will always add the sales tax amount on top of the amount of the product. To have it all included in the $300 amount, you'd have to change the product price to 278.55 which will then adjust the tax amount accordingly.
Yes, that is what I did. But when I have two products invoiced, the individual price line is shown without VAT, and the total VAT is added at the end. It is important that the price of a product be shown as including VAT in Switzerland. Visually, the client will see prices on each line which are not aligned with what they see on my website, for example. Contrary to what happens in the US with the sales tax, in Switzerland (and many other countries), prices to consumer have to include VAT. If you say something costs X, that X must include VAT. If would be nice to add a feature to enable VAT to be included in the sales price.
@Pierre2020 Got it, thanks for this further insight. Because we try to provide an accounting platform that doesn't actually provide for one specific location but instead is usable to different areas around the world, I totally understand how this would help you. I know this isn't currently something that is on the roadmap for the platform, but I'd be happy to pass your feature idea on to the team