This is where you may set up each individual tax rate, as necessary, which is applicable for the products you are selling. You will need to set up as many taxes as you are going to collect at the point of sale. This can range from just one tax to several depending on local taxing legislation.
Please refer to our Tax Set Up manual page for a full list of instructions to get your taxes set up.
Setting up Taxes:
Before you set up your taxes, you will want to set up an economic zone to learn how to do so please refer to our Economic zone manual page.
You can configure taxes for your point of sale system by navigating to the Setting > Taxes. Here you will be able to create a New tax and Edit or Delete existing taxes. You may even Copy an existing tax for an quicker setup process. From the …More drop down menu you may view your Tax Report.
Each tax is given a name, assigned to an economic zone and determined to be inclusive or exclusive. Also, the rate must be defined, as well as the date of validity for that rate.
All tax rates will be exclusive by default unless the box for “Included” is checked. If you enable the option “included” the POS will calculate the tax under the assumption that the tax is included in the retail price. This means total will not increase for the customer. However the net revenue will decrease for your business. This settings usually makes sense if including the tax is required by the local government or for cash only businesses that do not want to avoid dealing with change.
Each tax applies to one economic zone.
Upcoming tax rate changes may be set in advance using the valid from date.
After the tax rates have been set, you should proceed to set up the Sectors.