Transcript for:
Understanding Till Slips and VAT Calculations

hey guys in this lesson we're going to talk about till slips now till slips it's another name is a receipt so here's our first example now um we're gonna go through everything on this tool slip okay but the first thing I want to let you know is that this toe slip uses a 14 um vat rate okay I know that at the time of this recording in South Africa we use 15 but it's okay to still use examples with 14 um because some of our tail slips are a little bit older because we only recently changed from 14 to 15 okay so it doesn't change much just remember that some till slips are going to be 14 some are going to be 15. okay so the first thing I want to talk about is this part of the top that's just the name of the shop so let's just put here shop name okay now here are all the items that this person purchased as we can see if you have to add all of these numbers together there are 14 items now have a look here at mangoes um you see sometimes what they would do is they would have put all three of these together on some till slips they do that and then they'll just say mangoes times three or something like that okay but some till slips don't uh here they also purchased a bag sometimes they'll say bag multiplied by two instead of having it individual like that okay so that doesn't really really matter there's no rule that says they have to do that okay so let's try see um let's go we're going to go through everything here so we know that this person purchased on the 18th of the first month the 18th of January 2017 at 10 51 the cashier's name was lindiwe and okay so those are the basic things that you need to know now the more important things is these Stars over here those Stars a star means that it's a non-vat item that means that because some items in our shops have no fat so it doesn't really mean anything to you as the person who's paying but just know that those items have zero vat okay so let's quickly go add up those numbers that have a star all those items that have a star so that's this one this one this one this one this one this one this one this one and this one just gotta add those up quickly now if you add them up correctly you should have gotten 92 Rand and um two cents now as we can see down here we've got this row over here which is zero percent vat and that's on all the items that are marked with a star and you can see that it's also 92.02 then all of the other items these are all that items okay and so they would be in this row over here so let's quickly go add up all the ones that are marked in green and let's see just to make sure what we get this is just really good practice so you can understand how all these numbers come together okay and if you do that correctly you should get 71 Rand and 97 cents but now here's where Learners get confused okay um that 71 random 97 or these prices over here they already have the vat included these are already the prices with that you don't have to now go and you don't have to now go and add that onto these prices they already have the vat included okay so if you add up these two numbers together then that already has all of the Vats included um this one doesn't these ones don't have any vet but these ones do have that but that price is already included so if you add those two numbers together then you should end up with the total of 163.99 okay there we go here's where Learners make mistakes if they ask if they are asked to calculate the vat they take this number and then they try to work out 14 of that number but that is not correct remember what I've told you in previous lessons I've told you that to work out that we can use these formulas over here so remember that these prices that you can see here um the green ones they already have the vat so this number already has the vat so to remove the vat you must divide by 1.14 so you could say 71.97 divided by 1.14 I'm using 0.14 and not 0.15 because we're using 14 on this till slip and so that's going to give you 63 random 13 63 Rand and 13 cents so how much that was added on those items well you could say 71.97 minus 63.13 and that'll give you 8.84 and that is where they're telling us that is how much that was added so don't make the wrong Mist don't don't be don't do the incorrect thing and say 14 of that number okay rather just stick to the formulas that I've already told you to do okay if you say 14 of this number you're not gonna get 8.84 that's a very common mistake okay very I see that mistake a lot okay so let's actually go on to the questions now because I think you understand everything on how it all works so question a what do the non-vet items add up to well the non-vet items was the 92 Rand and 2 cents then it says what do the vat items add up to well that was the um 71 Rand and 97 and then how much vets is paid eight Rand and 84. okay of course we could have just read it off the table but I wanted you to see exactly how do they get these numbers because then it just helps you to understand okay so for the rest of this lesson we're just going to look at a whole lot of different examples of till slips okay so here's another one so the shop is called uh shop and go there's there that was the um cashier's name he has their telephone number and they are also using 14 that and then now here's something interesting listen carefully for this shop they don't use a star for this shop they use hashtags to see which it is yeah um if you're looking at the bottom it says zero rated okay so zero rated means that there's no tax on those items so they're using a hashtag instead of a star each shop is different but most shops use a star okay but this one uses a hashtag all right so let's quickly have a look here see this shop's a little bit different they say the carry bag they are each one is 39 cents okay but two of them they bought two of them so if you say two multiplied by 0.39 then you get 0.78 if you look here there's fruit shoes like a type of sweet they each two around 99 but this person bought four of them and so if you say four multiplied by 2 or 99 then you get that price over there and then popcorn for example um okay so we need to go calculate that actually so there I've added it in um over there okay but let's quickly go have a look so the first question says what do the non-vet items add up to so non-vet is only this one over here and so that's going to be eight Rand okay now you see this tall slip doesn't show it like the previous one did um where it would have showed it over here but all tool slips are different but you can learn that's why I'm going to show you quite a few examples on this lesson so you can learn a little bit from each one and then it says what do the vet items add up to well that's going to be um you see the total let's just see uh the total is 324 Rand so that 324 end is all of these numbers added together okay and so we could just say 324 Rand and 89 cents minus the items that don't have any vet which is eight Rand and if you calculate that you get 316 Rand uh three one let's just write it here 316.89 if you wanted to do that question in a different way you could have added up all of these numbers and then all of these whoops all of these numbers and then you would so you'd add up all the numbers except for this one okay because they said what do the vat items add up to okay but what I just did is I just took the total minus eight Rand now the next question says how much that is paid well we can see here now we can work this out in many ways we can also just read it off it says that on the items that do include that they charged us 38 Rand and 92. just like in the previous lesson we could have just worked out eight Rand 84 okay so you can read it off so you can just say 38 Rand and 92. but if you want to have a very good understanding of how they calculate that number then we can do the following the vet items cost 316 Rand and 89 cents now remember that is the price with that so if you want to see the price without that you could remove the vet by dividing by 1.14 so you could say 316.89 divided by 1.14 and that'll give us 2 7 7.97 Rand so now that is the price of the vat items without vet and that is the so that's the price of all of these ones and these ones without vet would be 277 round and 97 but we know that when they have that it's that so how much of that was added well you can just minus those two values see how we're not including this eight Rand because that is a non-vet item okay and if you had to calculate this you get 38 Grand and 92 cents see same thing okay so how much that was paid and then it just says calculate a now a is over here so it's a popcorn they um they pay 32.97 but that's for three popcorns so for one popcorn you could say 32.97 divide by three and that'll be 10.99 Rand 10 Rand 99 okay so that is the price of one popcorn and when you buy three of them then it costs that amount over there so in this tall slip we're using 15 for that and the they're using a star that Exempted means that there's no vat so if you look here this item over here novat and then if you look at this item over here it's got a star oh and this one over here novat okay so let's quickly see what do all the non-vat items add up to so the non-vet items would be the 74 the 189 and the 12. if we add those together we get 275 Rand what do the vat items add up to well there's two ways that you could do this you could take the total amount and you could minus those three because then all the other numbers are left over or you can just go add up all of the vet items which would be all of the others okay so if we go add those numbers together you get 582 Rand and 45 cents so if you had to add these two numbers together it should give us the total let's just do that to make sure we've done this all correctly yes it works perfectly question C determine a now here's where Learners make a lot of mistakes okay you've got to be careful so it says that the vat is 15 and so they want to know how much that was charged so remember don'ts include these items over here they are not part of that so you only look at the items that have that which is 582 Rand and 45 cents but now wait a lot of Learners they go work out 15 of that number but that is not correct this number already has the vat this already includes this already includes the vet so you mustn't try work out 15 of this number it doesn't work you'll see that you're not going to get the correct answer okay so it says yeah to remove the vat just divide by 1.15 so that's all that you do you just say five eight four point four five which already includes the vet then you just take the vat away and you see what the price is without the vat and that'll be if you round to two decimal places 506.48 Rand so here's the price of all the vat items with that and here's the price of all the vat items without vet so you minus those two numbers so 582 0.45 minus 506.48 and that'll give us 75 Rand and 97 cents that is what you should get there okay if you're getting a number like 87.36 then you're doing it incorrectly you need to follow what I'm doing over here okay okay so over here I'm going to say that it is not what's this is correct that's correct and it's not 87 .37 okay it's not 87.37 right and then the next one says what is the price of juice well here if we look on the till slip uh there's three juices that they purchased for 105 Rand so they paid 105 Rand for three juices so to work out the price of one juice you'll just divide that by three and that'll give you 35 Rand 35 Rands we can just fold that in over there 35. here's our last example this one's going to be really cool because I've got a whole bunch of values written down here but I'm not going to let us see it right so you know all the values that we sometimes see here where it gives us the vat items and the non-vet items and how much tax was charged we're going to go calculate all of that ourselves and then once we're done I'll show you the numbers and I'll show you how they got each of those numbers please remember that this question uses 14 vat okay so it says what do the non-vet items add up to so non-vet items is all the ones with stars okay I'm just making sure that that's everything okay so you go add all of those together and you get 32 Rand and 97 32 Rand 97. then it says what do the vat items add up to so that items would be oh let's use a different color would be all the other ones okay so you go add oh it's not a nice color sorry I'm trying to get it so that you guys can see now see let's try this one okay none of them are that good but it's pretty much all of these or actually including that one so it's all of the ones that don't have a star and then those two and then that one okay so we're gonna go add up all of those numbers together so go ahead and do that and that should give us 160 Rand and 27 cents so 160. so 160 and then 27 cents okay so what would the total cost be that this person has to pay well it's all of these items plus all of those items yeah but Kevin what about the vet remember these the prices here these these numbers that you see they all have that included already and in these numbers we don't have to worry about that because they don't have they don't ever have that included okay so if you add those two numbers together so if you just say 32.97 plus 160 points what was that a seven as well 0.27 you get 193 Rand and 24 cents so 193 Rand and 24 cents that is what you would pay for all of these items now how much vat was added now here's where Learners make mistakes what they do is they take the Vata items okay that parts are correct we must look at the vet items I do agree with that but then they just say 14 of that number but that's not an and 14 because we're using 14 of here um they just say 14 of that number but then they never get the correct answer but remember that that's not the way to do it rather use this little thing that I've showed you before so this number already includes that so to remove the vat divide by 1.14 so divide by 1.14 and that'll be 100 if we round that to two decimal places that'll be 140 Rand and 59 cents okay now this is the price with that this is the price with novat so by minusing those two we can see how much of that was added Robert Kevin what about this number remember guys this is a non-vet item so we don't look at these ones ever we only look at the vat items when calculating our vet so if you say 160.27 minus 140.59 that'll give us 19 Rand and 68 cents that is how much of that was paid now I'm going to do the exciting part where I'm going to take this block away there's something blocking it here and we're going to see how we got all these numbers and so there we go guys so the taxable items was uh 32.97 like we got uh that means that those ones have zero tax or that because those are non-vat items then the items that have that was 140.59 and then we added on the vat of 19 Rand and 68 and so your total vat or tax was 19.68 okay so if you had and then we can also see the total as 193.24 so the total amount if you want to look at this it's quite cool you take all of the items that have no vat then you take all the items with that then you add the vat and that should give you the total