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Greg Kloberdanz Posted on Aug 31, 2014
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How are taxes, if any, calculated in a pro forma?

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Michael

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  • Expert 142 Answers
  • Posted on Sep 01, 2014
 Michael
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I assume that you are creating a pro-forma for others to use. Very simply, you could offer a cell that asks the user to nominate the applicable tax rate for their tax jurisdiction, or, if you know (or assume the value), place that into a cell then multiply the taxable amount by 1+the tax rate, ie I buy shoes for $4 and have a 10% tax rate. Multiply the price of the shoe by 1.04 and you have the final price, inclusive of taxes.

Usually all fees and charges are applied before the taxes are calculated., but check your local tax rules because some government levied charges may not be taxable.

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Related Questions:

0helpful
1answer

What taxes, if any, are included within a pro forma?

A pro-forma would usually include all the taxes that are payable by the vendor on behalf of the buyer. These are usually state sales taxes, or in some countries, may appear as a value-added tax (VAT) or goods & services tax (GST) applied as a percent markup of the transaction. The taxes included in a pro-forma should be those that apply to the transaction being taxed.

Is it a good? A service? A commodity, a major asset? Are there other fees & charges levied by local government that do not attract sales taxes?

The answer is:
It depends on what you are taxing, and in whose jurisdiction you are levying the tax and what rules apply to the calculation of the tax. Familiarise yourself with your applicable tax legislation.
1helpful
1answer

Sometimes our register miscalculates the tax by a penny when ordering multiple items.

Alice,
Your back again. To fix your problem, go to OPTIONS, SETUP, SETUP SCREEN, INVOICE SETTINGS. Under tax rounding, select ROUND BEFORE CALCULATIONS. This should correct situation, if I understood your problem correctly.
[email protected]
Feel free to email me with more details if need be.
Post twice, get two answers.
0helpful
1answer

Problems with tax amounts calculating wrong when multiple items are ordered

Alice,
Your back again. To fix your problem, go to OPTIONS, SETUP, SETUP SCREEN, INVOICE SETTINGS. Under tax rounding, select ROUND BEFORE CALCULATIONS. This should correct situation, if I understood your problem correctly.
[email protected]
Feel free to email me with more details if need be.
5helpful
1answer

Can you tell me how to set the tax rate on my Cannon HS-1200TS?

According to the User Manual, press CA then TAX+. After, enter the tax rate and press TAX+ again to store. Here is the manual. http://www3.canon.de/images/pro/rec/file/HS_1200TS_Manual.pdf
1helpful
1answer

We have several MS-170TV's I have misplaced the instructions. How do I re-calculate the Tax Rates at 15%? Terry



Q2


Please tell me how to do "TAX calculation".
A2 1. How to set "Tax Rate"

(1) If "Rate set" is printed above [%] key with your calculator,

1. Press [AC] and hold [%] for about two seconds.
2. Input Tax Rate and then [%].
* You can check Tax rate by pressing [AC] and then inputting [TAX+]
(2) If "Set" is printed above [%] key with your calculator,
1. Press [AC] and hold [%] for about two seconds.
2. Input [TAX+].
3. Input Tax Rate and then [%].
* You can check Tax rate by pressing [AC] and then inputting [TAX+]


2. How to calculate Price-plus-Tax and Price-less-Tax.

(1) How much is Price-plus-Tax of 100?
Press [AC], and input 100 [TAX+].

(2) How much is the Price-less-Tax of 105?
Press [AC], and input 105 [TAX-].

13helpful
2answers

NEED TO SET TAX RATE

Solution #1 has it backward..
(tax rate), STR, TAX+ (or TAX-)
Example- San Francisco sales tax = 9.5% you enter 9.5, STR, TAX+.
now it functions as (amount entered) plus tax. Example- find the total with tax for a purchase of $14.99 14.99, TAX+ Calculator will show 16.41
1helpful
1answer

CHANGE TAX %+ & TAX- ON MY CASIO JF-100TE CALCULATOR

1. Press [AC]
2. Hold [SET/%] key for about 2 seconds
3. Press [TAX+]
4. Input the tax rate
5. Press [SET/%]
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