If you need to show your price before tax in the body of the receipt (as in the UK) but don’t want to have to calculate all your pre-tax prices by hand, inFlow Inventory can do that for you.

Please note: Product pricing is only available on inFlow Inventory for Windows.

This is different from inFlow’s tax-inclusive setting, which shows the tax-included price on the line item.

Using Product pricing

First, set up a pricing scheme for the pre-tax price:

1. Add your prices as posted to the program under a Taxes Included scheme. Let’s call this scheme Normal Price.
2. Go to the Main Menu > Inventory > Product Pricing.
3. Click Add Products and select everything.
4. From the Pricing/Currency drop-down, choose <Add New..> and create a new pricing scheme called “Sales Excl”.  Click Save & Close.
5. Next, we have to calculate the percentage by which your prices should be reduced (since it’s not the same as your tax percentage).  This is done using the following formula: OriginalPrice = PostedPrice * [1 / 1+SalesTax]For 17.5% sales tax, the calculation (for example) would be as follows: £8.99 * [1 / 1 + 17.5%].  This would work out to the original price being £7.65.  This also tells us that the original price (pre-tax) was 85.1% of the posted price, meaning that we will need to reduce our prices by 14.9% in order to get the correct pre-tax prices.
6. To set your PreTax Price scheme correctly, tell inFlow at the bottom of the window to SET “SALES EXCL” TO “NORMAL PRICE” “MINUS” “14.5%”.
7. Click Adjust to apply the changes.

When you’re done, set up taxes to calculate:

1. Go to Main Menu > Options > Settings.
2. Scroll down to the Taxes section and click Manage Taxing Schemes.
3. Set up a 17.5% sales tax in this window and give it a name.
4. Click “Save & Close“.

Your sales order would look like this: