Calculations for Taxable Revenue, Tax Collected, Debited Tax Revenue, Debited Tax Due, & Debited Tax Collected

Since VetView directly associates the charges (revenue) with the tax due, adjustments, and payment; but does not directly associate the tax due with adjustments and payments, the following calculations must be performed in order to obtain the corresponding portions of Taxable Revenue, Tax Due, and Tax Collected to report the Taxable Revenue, Tax Due, Tax Collected, Debited Taxable Revenue, Debited Tax Due, and Debited Tax Collected for the Sales Tax Report (the charge, adjustment, payment, and tax transactions are found in the CHARGE_ADMIN table).  The report date range refers to the TRANSACTION_DATE of the CHARGE_ADMIN transactions.  Although this report references ‘debited’ amounts, the amounts are based on credit adjustments that have been posted to charges that represent taxable revenue.

Taxable Revenue:

Taxable Revenue is considered to be the net amount of charges having a child record of type ‘Tax’.  The net amount is determined by adding the modifiers to the base charge.  Modifiers are 'Open-Order Adjustments that account for the markup, client discounts, volume discounts, and minimum price adjustment.  Closed-Order Adjustments are reported as ‘Debited Taxable Revenue’ in the subtotal lines of the Sales Tax report.

Formula:

• TR = C + M

  • Where:

    • TR = Taxable Revenue

    • C = Charge

    • M = Modifier (Modifiers originate in ORDER_ITEMS as discounts (credits (-)) and markups (debits (+)).  When the order is closed, and the charges are created in CHARGE_ADMIN, the accompanying ‘modifiers’ are also created.  These should be created as adjustments and associated to a corresponding adjustment type via the ADJUSTMENT table.