Selecting VAT Inclusive or Exclusive pricing

Items Overview > Adding additional details and custom information (optional) > Selecting VAT Inclusive or Exclusive pricing

Before you begin entering prices on the Selling Details tab, decide whether you want to enter prices that are VAT inclusive or VAT exclusive. The Inclusive/Exclusive check box is unmarked, which means prices are VAT exclusive -- the base selling price doesn't include the VAT amount. Mark the Inclusive/Exclusive check box if you want prices to be VAT inclusive -- the base selling price includes the VAT amount.

Since the Inclusive/Exclusive check box is an indicator of how the prices have been entered on the Selling Details tab, marking and unmarking the check box will not change the existing prices shown in the window. If, after entering prices, you want to change from VAT exclusive to VAT inclusive pricing, for instance, you must manually change the amounts in the matrix or import the correct prices to reflect that the prices are VAT inclusive.

If you wish to include an item with a VAT exclusive price on a sale which has been marked VAT inclusive, the price of the item will be adjusted to show the item with a VAT inclusive price.

Likewise, if you wish to include an item with a VAT inclusive price on a sale which has been marked VAT exclusive, the price of the item will be adjusted to show the item with a VAT exclusive price.

Note: If you've upgraded your company file, item prices entered previously will be VAT exclusive

If you've entered prices for an item in a previous version of MYOB software and you've upgraded your company file, the item prices shown on the Selling Details tab will be VAT exclusive.

Since all item prices in previous versions of MYOB software were VAT exclusive prices, those item prices, when upgraded, will remain VAT exclusive.

Click below for the step-by-step procedure:

To enter pricing level information for an item