Question:
My supplier gave me a RM100 GST inclusive Credit Note. The system calculate GST for RM100 is RM5.66. Isn't suppose to be RM6?
Answer:
Please note that the credit note that you received is Tax Inclusive, hence the calculation varies from the tax exclusive calculation. The calculation for tax inclusive amount is shown as below:
(100 / 106) x 6 = 5.66
Whereas, for tax exclusive calculations, it will be as below:
100 X 6% = 6.00
TreezSoft cloud accounting software uses series of automation and integration processes to ensure all calculation and records are accurate and up-to-date. Therefore, calculation mentioned in this article will be automatically done whenever you enter your amount, making the process to create a CN simple and easy.
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