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-   -   Prices on Item List in QB2005 (http://forums.quickbooksusers.com/showthread.php?t=13332)

welsh rarebit 04-19-2005 03:11 PM

Prices on Item List in QB2005
 
Has anyone noticed a strange thing has happened to Gross Price on the Item List when they have entered new items?

If you have upgraded from 2003, the items already entered are OK, but anything new has the wrong gross price. Something weird is going on. Any ideas, anyone?

Chris

Diceman59 04-20-2005 03:09 AM

Vat ?
 
Could the "Amts Inc Vat" box be ticked as a default ?

TheFinn 04-20-2005 12:38 PM

I know this sounds thick, but what exactly IS the Gross Price?

welsh rarebit 04-20-2005 03:15 PM

The gross price is the selling price plus VAT. (I think!)

I am not sure if I should be worried about this but hate to see things looking different from the way they were on QB 2003.

I might have to brave the Intuit helpline again ....... I may be away for some time .......

Diceman59 04-21-2005 02:56 AM

Example Please
 
Can you tell us what the "strange thing has happened to Gross Price" is, exactly.

Can you let us know what the Price per is, what the vat code is and what the gross price comes out as? We should then be in a better position to help.

TheFinn 04-21-2005 09:18 AM

[QUOTE][i]Originally posted by welsh rarebit [/i]
[B]The gross price is the selling price plus VAT. (I think!)

[/B][/QUOTE]

OK that's what I would understand a Gross Price as.
I just didn't know what Quickbooks thinks Gross Price is.
Perhaps I'm getting the same 'strange thing' then.

Some examples:

Item Price 110.00 Gross Price 0.33088
Item Price 700.00 Gross Price 2.9155
Item Price 45.00 Gross Price 0.13536
Item Price 570.00 Gross Price 2.14848
Item Price 2750.00 Gross Price 12.32152

Its not even as if they all have the same multiplication factor.

TheFinn 04-21-2005 09:22 AM

Sorry, just read Diceman's reply and notices that the examples I quoted have different vat codes as follows:

Item Price 110.00 Gross Price 0.33088 VAT code S
Item Price 700.00 Gross Price 2.9155 VAT code S
Item Price 45.00 Gross Price 0.13536 VAT code S
Item Price 570.00 Gross Price 2.14848 VAT code Z
Item Price 2750.00 Gross Price 12.32152 VAT code S

Does this help?

Page 04-21-2005 11:14 AM

The Gross price is the total inclusive price with the VAT.

So 100 +VAT at standard rate = 117.50

I hate to think what QB is showing you.

Have you downloaded the latest updates on line?

welsh rarebit 04-21-2005 12:27 PM

Yes, I have downloaded the latest updates. And the figures posted on the forum look very similar to ones I have on screen.

I knew they were wrong because I kept a QB2003 file just in case of problems.

However, I am not sure what impact this has on the data.

I am going to try the Help Desk when I am next in the office, probably on Monday, and will let you guys know what they say, if anything.

Thanks for your comments, it's nice to know there are other long suffering users out there!

Chris

TheFinn 04-21-2005 02:44 PM

Welsh rarebit - its a releif (in a way :)) that my figures are similar to yours.

I'm a new user so have only used 2005 so its not a data conversion issue.

I also have the latest updates.

I've been looking at this everytime I pull up the item list and thinking 'I'll have to find out what that means one day' as it obviously wasn't a 'plus vat' figure.

welsh rarebit 04-22-2005 03:08 PM

I will let you know how I get on after speaking to Intuit on Monday. That's if I can get any sense out of them!

Chris

welsh rarebit 04-25-2005 06:24 AM

I got through to Intuit Helpdesk just now and they told me that the gross price problem has already been pointed out to them. It is a bug in the software and they are working on a patch for it.

I was told to keep Automatic Update switched on and the fix would arrive shortly.

She couldn't tell me if I should be worried about my reports or whether estimates are being affected by this glitch. I have checked by doing a couple of estimates, and they seem OK. Has anyone else noticed any problems with estimates/invoices where the gross price column might be used?

Regards

Chris

TheFinn 04-25-2005 09:36 AM

Thanks for the update, Chris.
I'll wait with baited breath for the patch :)

My estimates seem OK - they use the net price & then seem to calculate the VAT there & then, rather than using the gross price from the item list.

Steve

Page 04-26-2005 05:07 AM

Ah another great example of Intuit checking the software before it goes out!

I would be very surprised if it affected any of your reports as the screen display will probably be made up from the base data as it is displayed. Net price * (1+vat rate).

cimbian 06-21-2017 01:07 PM

13 years and still a problem
 
[QUOTE=welsh rarebit;48973]I got through to Intuit Helpdesk just now and they told me that the gross price problem has already been pointed out to them. It is a bug in the software and they are working on a patch for it.

I was told to keep Automatic Update switched on and the fix would arrive shortly.

She couldn't tell me if I should be worried about my reports or whether estimates are being affected by this glitch. I have checked by doing a couple of estimates, and they seem OK. Has anyone else noticed any problems with estimates/invoices where the gross price column might be used?

Regards

Chris[/QUOTE]

This thread should be covered in webs but I am still seeing an issue in 2015 Pro. Items entered with a net cost are grossed in my POs without the checkboxes checked for VAT included. I battle this every time I raise a PO for a UK supplier. Non-EU is never an issue.


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