VAT calculation

[warlord at MIT.EDU]

Hi,

Quoting Yuval Hager <yuval at avramzon.net>:

> Hi,
>
> I've started using Gnucash not long ago and am very happy with it.
>
> I was wondering what is the simplest method to calculate Value Added 
> Tax - for
> which I can get refund from the state. I have scanned the docs, FAQ and
> mailing list, and frankley, I could not understand what should I do.
>
> Basically, I would like to have an expense marked as "VAT included", and make
> a split - net pay goes to the correct expense account, while the VAT itself
> goes to a different account (Account payable? Negative liability?). However,
> I want this all to be automated, according to the VAT rate. Of course, VAT is
> not applied to all expenses.
>
> I am slowly coming to the conclusion that this is under the 'business
> features' which is not yet fully developed, but I might be missing something
> here.

You are correct in your first statement, incorrect in your second.  Currently
you need to use the Customer Invoice or Vendor Bill interfaces in order to
automate VAT splits.  It does let you specify which items are taxed and
which are not.  However you are incorrect that it is "not fully developed".

> I'll appreciate any more info on this, thanks!

-derek

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