Are the orders shown on the monthly transaction reports VAT included or exclusive?

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1

Hi, why some orders shown on the monthly transaction report are VAT included and some are VAT exclusive?

2

Hello,
The reason why some orders shown on the monthly transaction report are VAT included (VAT inclusive) and some are VAT exclusive (VAT exclusive) can depend on various factors. Here are a few possible reasons:

  1. Customer Type: If you sell to both individual consumers (B2C) and registered businesses (B2B), the VAT treatment may differ. B2C transactions typically include VAT in the total price, while B2B transactions may be VAT exclusive, as businesses can often claim VAT back.
  2. VAT Registration: If your business is registered for VAT, you may be required to charge VAT on your sales. In such cases, the monthly transaction report will reflect VAT-inclusive amounts for B2C sales and VAT-exclusive amounts for B2B sales.
  3. Pricing Structure: Your pricing structure may vary for different products or services. Some may have VAT included in the displayed price, while others may have VAT added at the point of sale or invoicing.
  4. International Sales: If you sell internationally, the VAT treatment can differ based on the customer’s location and local VAT regulations. VAT inclusion or exclusion may vary depending on the country-specific rules.

To better understand the specific VAT treatment for your orders, it’s recommended to review your sales documentation, VAT settings, and consult with a tax professional or accountant familiar with your business and local tax regulations. They can provide guidance tailored to your specific situation and ensure proper VAT reporting and compliance.