Is total income before VAT going to be less or more than total income before VAT?+REP

[Josh-H]

Is total income before VAT going to be less or more than total income after VAT?

I'm confused which way round they are

Thanks + REP to helpers.

[alexxxxx]

what the hell are you on about.

VAT is what you pay at the shops.

[Josh-H]

what the hell are you on about.

VAT is what you pay at the shops.

I know but I'm doing an excel spreadsheet for I.C.T and the non-i.c.t bit has me stumped

[alexxxxx]

hmm.i don't really understand. Is it just tax or VAT?

it must be less before vat i suppose. but a company doesnt really keep the vat.

[Josh-H]

hmm.i don't really understand. Is it just tax or VAT?

it must be less before vat i suppose. but a company doesnt really keep the vat.

That's what I thought.

Use appropriate formulae and functions to calculate:
• the total cost of each item sold
• the total income before and after VAT
• the expenditure for the business
• the total profit (do not include VAT)

[Carlsta]

I do business studies and i can tell you it's less before VAT

[surfer]

Wow my business teacher helped me remember this!
it goes

Income
Expenditure
Gross Profit
Fixed Costs
Net Profit
Vat
Total Income/Outcome

[Josh-H]

I do business studies and i can tell you it's less before VAT

Thank You.

[Holofoil]

After VAT means you've payed VAT (17.5%).
So if you've payed it you have less income...

So you're going to have more Income before VAT... You don't need business studies to know that.

[Coldplay]

Yeah... Your income is MORE before VAT, Your income is your Gross profit, and after expenses (Or Overheads, Which includes tax) it's your Net profit.

I understand your not doing accountancy so I won't bore you =]