The total on the NightsBridge invoice template assumes VAT is included in your rates. Our method for calculating VAT on our invoices is the standard approach used by all businesses e.g. retailers, restaurants, who price inclusive of VAT.
This calculation is an explanation of how we get the VAT amount on PDF and Excel invoice templates, not a formula that needs to be entered on the Excel template.
The total on the NightsBridge invoice template assumes VAT is already included your rates.
For example:
- Your booking total is R1,000. This includes the 15% VAT.
- This total consists of rates of R869.57 + VAT of R130.43 (15%xR869.57)
If you want to see how these values were calculated:
- Rates excluding VAT = Booking total X 15/115 = R1,000 X (15/115) = R869.57
- VAT amount = Rates excluding VAT x 1.15 = R869.57 X 1.15 = R1,000