VAT on Products and Invoices
I've noticed that the margin and VAT is incorrect for products. For example we have inputted a product with a cost price of 35p with a margin of 15% which easify then shows a trade price of .4118p which is actually 17.657% and not 15%? The VAT inclusive trade price is then .4942 which is near enough to an extra 20% on top of the .4118p figure. I don't understand why this happens or how we can rectify it without producing everything manually.
Subsequently all of our invoices are incorrect, only by pennies but nevertheless, they don't add up. Are we doing something wrong? Is there a setting we need to change i.e 2 decimal places rather than 4 somewhere?
Please help
Thanks