Tag: Gross amount

Calculating the Est. Gross Profit and Est. Gross Profit Percent when Discount is Applied

Scenario What is the Standard Formuls to calculate Estimated Gross Profit? Solution The standard formula in calculating the Estimated Gross Profit is as follows: Sales –Est. Extended Cost = Est. Gross Profit Where: Sales = refers to the total quantity multiplied with the unit price of the item Est. Extended Cost = based on the… Continue reading Calculating the Est. Gross Profit and Est. Gross Profit Percent when Discount is Applied

Formula to generate the remaining amount without tax for Partially paid transaction types in proportion of amount paid to total amount

For open invoices partially paid, consider the following example…   Subtotal /{ amt (net of tax) } =370.00 –> This amt is without tax Discount Item= 0 Tax Total =55.50 Total /{ total gross amount } = 425.50 Amount Due / { amt remaining }= 287.50 Amount paid= 138.00  Since we need to get the amount remaining… Continue reading Formula to generate the remaining amount without tax for Partially paid transaction types in proportion of amount paid to total amount

Gross Amount altering done by NetSuite

We have recently completed an integration with a third-party application, which involves the creation of cash sales within NetSuite for a specific customer, “4902 Aria Super Market Customer”. In the process of generating these cash sales, we have been setting the gross amount and tax rate directly within the item line, rather than specifying the… Continue reading Gross Amount altering done by NetSuite