Ways to calculate the values of invoices in the system (calculating strategies)

Created: 2021-06-11
Last updated: 2021-11-09

Post view count: 2020

In InvoiceOcean you can choose different ways to calculate amounts of items on an invoice and the summary of invoice values.

The calculation parameter settings can be found in Settings> Account settings> Configuration> Ways of calculation.

ways discount calculation

Points and 2 describe the calculation settings according to the fiscal cash register:

1 button sets the calculation of all issued documents in accordance with the cash register,
2 Checking this box will cause receipts to be calculated according to the fiscal cash register settings.

3 How to calculate values in invoice position

Under this heading, you have two options to choose from:
  • default
the program first multiplies the quantity of the product and the net price of a single item, calculating the net value, and finally adds VAT. As a result, you get a gross value
  • Keep gross (in accordance with cash register)
the program first adds tax to the net price which results in a gross price, then multiplies the gross price by the quantity of products, receiving a gross value

4 How to calculate total invoice value

There are 3 options available:
  • sum all entries (keeping gross and net price) 
The program sums all net and gross values ​​from all items on the invoice. On the basis of the difference in the sum of the gross and net values, it adjusts the VAT calculation and possible approximation resulting from the conversion “puts” in the VAT value.
  • keep gross price and calculate net and tax (VAT). This function works like a cash register at a store, showing the gross amount
The program sums all gross values ​​from the invoice items, then subtracts the sum of VAT values ​​from the items and adjusts the net value. Possible approximations resulting from the conversion are “placed” in net value.
  • keep net price and calculate gross and tax (VAT). This function saves the net amount
The program sums all net values ​​from the items, adds the sum of VAT values ​​from the items and adjusts the gross value. Possible approximations resulting from conversion are “placed” in the gross value.

Unit price kind of form

Here you can determine whether you want to enter unit prices for net or gross products.

6 and 7 How to calculate discount

These functions are described here.

8 and 9 Number of digits after the decimal in prices/quantities

These functions are described here.

10) Add zeros after decimal

Checking this box will fill in the digits after the decimal with zeros so that the number has the correct amount set above. e.g. USD 23.4500

What happens when you’ve already issued an invoice with a different configuration and you want the changes to apply to the already issued invoice? 

Each invoice has saved calculation settings as they were at the time of its generation. To change this, edit the invoice, and then click the See more options tab.

ways discount calculation 2

Then click on the blue inscription Change calculating strategy.

ways discount calculation 3

A window with calculation methods will appear, you will be able to make changes to the calculation strategy.

ways discount calculation 4

By checking the box Restore default calculating strategy (from account settings), the way of calculation on the invoice will automatically adjust to the current calculation settings of the entire system.

You might also want to check out this article about different acceptable methods for calculating numerical values on invoices.

Create unlimited invoices and more with InvoiceOcean. Start your 30-day free trial.

Sign up free


Add Comment