5 Replies Latest reply on Jul 13, 2010 12:20 PM by Steve Wright

    Setting up VAT and currency questions

    CharlieFlavell

      Title

      Setting up VAT and currency questions

      Post

      Hi there and hope you can help.

      1) I'm having difficulty in setting up the VAT calculations on FMP 11. I think I have the right formula: (sub-total/100*17.5) But I can't find where this goes.

      2) On my screen it shows £ signs but when I preview or print the invoice it goes back to dollars.

      Please help me my head hurts!!

        • 1. Re: Setting up VAT and currency questions
          sunmoonstar.13

          1) I'm having difficulty in setting up the VAT calculations on FMP 11. I think I have the right formula: (sub-total/100*17.5) But I can't find where this goes.

          Open Manage Database, go to the relevant table and create a calculation field with the formula:

          your_subtotal_field_name * .175 

          Make sure that the calculation result is set to "Number".

          Then add this field to the appropriate place in your layout.

           

          2) On my screen it shows £ signs but when I preview or print the invoice it goes back to dollars.

          Go to the layout that you print from, select each relevant field and change the currency symbol via the Inspector > Data tab > Data formatting panel.

           

          Nick

           

          • 2. Re: Setting up VAT and currency questions
            CharlieFlavell

            Perfect,

            Thank you very much Nick. Have been struggling with it for a couple of days. Am completely new to file maker and am finding it quite difficult to get to grips with at the moment.  Many thanks again. Charlie.

            • 3. Re: Setting up VAT and currency questions
              philmodjunk

              Instead of using a number constant such as 17.5, you may want to store this value in a field so that you don't have to find and edit a calculation field each time the tax rate changes.

              • 4. Re: Setting up VAT and currency questions
                CharlieFlavell

                Thank you Phil. Will try that also. Much appreciated, very kind of you both to help. Charlie.

                • 5. Re: Setting up VAT and currency questions
                  Steve Wright

                  Charlie...

                  As Phil stated, you will certainly want to store this value in a field..

                  The vat will be changing again (in the UK) before you know it, if you start with this method, when you change the calculation everything will be incorrect in your database and you are going to have a nightmare sorting it out.

                  Also, you may need to take into account scenarios such as when documents where created prior to a tax rate change but invoiced after the change, i.e an quote being copied / converted to an invoice.  The old rate may be stored, but the new rate should be used.

                  Perhaps during the final print of the invoice, have it check the stored tax rate (for that document) matches the current tax rate, if not display a prompt to use existing or new tax rate.  That's pretty much what I do.
                  Initially I had it changing automatically, but there are circumstances when this shouldn't happen either.