This article will explain the difference in profit calculated with include and exclude taxes
I. Configure Profit Tax Calculation
Step 1. Go to setup-more menu-module
Step 2. Select the report tab
You can select Include or exclude Tax
Column | Description |
Include Tax | Include tax means that the profit from the total sales + tax transaction will be reduced by the cost |
Exclude Tax | Exclude Tax means that profit comes from Sales at less cost, sales + tax will not be calculated |
Examples include tax
Sales+Tax(68,226)-Cost(32,089.609)=Profit(36,136.391)
Examples Exclude Tax
Sales(62,026)-Cost(32,089.609)=Profit(29,936.391)