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Tax Calculations

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Regarding tax or vat in the UK, is it necessary to enter this seperately to the total figure i.e.

£100 plus vat of 17.5% (£17.50) and £117.50? I assumed the program would calculate this on it's own as it is automatically calculated on the invoices and pro forma etc. If it does in fact do this, how can I see the vat?


Also confused as to how to enter: sample:



Buying an item to sell (Cost of Sale) - should this be entered under Payments or purchases? To me they are the same thing... not sure.


payments, receipts, sales, purchases


Thanks to anyone out there ....

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