Process

1. Calculate Gross Amount

Specify how the system calculates the gross amount that appears on the report, using the definition Gross = Goods + VAT. The system calculates the gross amount differently based on the tax explanation code that you entered for the transaction. For example, if the tax explanation code is VT (for tax only), the gross amount is equal to the tax amount. If the tax explanation code is V, the gross amount might be (taxable + nontaxable + tax), (taxable + tax), or nontaxable only, depending on the values entered. Values are:

Blank

The system calculates the gross amount as either (taxable + tax), or as nontaxable, whichever is applicable.

1

The system calculates the gross amount as (taxable + nontaxable + tax), if applicable.