help with vat costs

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help with vat costs

Postby worriedwizard » Tue Dec 03, 2013 9:39 pm

hi, i need some advise on adding the cost of vat to the price of a frame, i'm not vat registered. up until a few months ago i entered my own description in the moulding list and would add 20% to the net price of the moulding. i have started to use lions moulding list which is great and allows me to list 100+ mouldings, the problem is i have just realised that the list prices for the mouldings are net, i would like to continue using there list just for the ease of it, but i need to increase the price by 20% to cover the vat cost. i have tried to increase the wastage by 20% but this doesn't give the same price as using the vat added tab, if this makes sense. also have you thought about making a simple version of est for use on a ipad. i do lots of home visits and use est to show customers how much a job will cost. i do all the printing and entering of info. back at the workshop. for me the ipad version would just need to calculate the total price or though it would need to hold the suppliers moulding list, thinking about it i would imagine it wouldn't be that simple. thanks worriedwizard
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Re: help with vat costs

Postby markw » Wed Dec 04, 2013 12:59 pm

Phew - a couple of breaks in your flow of text might make understanding your post a little easier.
You could just alter the pricing factors and end up with a price that fits your desired profit margin - or manually add mouldings at their true price to you. I doubt that you could accurately get Est to duplicate a VAT added price, expecting that to match adding the VAT cost at the price input stage. As with other elements if you're not VAT registered you need to make sure the VAT element is present at the cost setup stage. John will probably have some words of wisdom on this.
As for an iPad version - it would be nice wouldn't it - but I doubt you would get John to write something for a Mac.
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Re: help with vat costs

Postby stcstc » Wed Dec 04, 2013 1:52 pm

maybe for andriod!!!
http://www.360-dpi.com

High Quality Photo Printing & Print Finishing
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Re: help with vat costs

Postby Graysalchemy » Wed Dec 04, 2013 2:36 pm

Why don't you just factor it into you % mark up that you place on the moulding element?

So if you usually +300% then you would have to +400% to include the VAT.

ie £10 net of VAT (£8 ex VAT) and +300% = £40 profit of £30

So £8 ex VAT would need £2 adding on as VAT and £30 as profit , which is a total of £32 which is £8 + 400%.

:D :D

Please be gentle with me if there is a flaw in my logic or mathematics. :oops: :oops:
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Re: help with vat costs

Postby worriedwizard » Sun Dec 08, 2013 2:07 pm

Hi,
Thank you for the replies, I have re-read what I have put down in the post. I made a mistake in describing the problem, I meant that lions moulding list is priced without vat, not net. So I will need to add the vat cost onto the moulding price. I think it could be done by opening lions list in office and changing the prices manually then importing back into estlite, but that seems a very long way round.
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