Given that you're running a business in countries like USA or Canada, there is a need to break down your tax according to city, county and state. With the introduction of our Tax Type component, you can easily get this up and running in no time!
Part 1 (Manual)
Navigate to Settings > Tax Types
Click on the "Add A Tax Type" button to begin. Enter the Name, Code and the relevant tax components. Have a look at the example below for reference.
Once you've filled up the relevant information, just click on the Create button and you're done!
Part 2 (From Xero)
If your TradeGecko account is already integrated with Xero, you can link it up with your Xero's Tax Type. At the same time, you can import the Tax Type from Xero to TradeGecko by selecting any of the checkbox followed by the Update button. This would then show up when you craft a sales/purchase order.
Part 3 (Example Sales Order With New Tax Type)
Adding the newly created Tax Type in the sales order is really simple. After adding the line item, click on the TAX column. A dropdown box should appear, allowing you to select from the different tax type available.
After you've made your selection, create the sales order. The Tax components would be reflected right below.
Variants have tax configuration. You can enable or disable the option "This Item is Taxable" from the Variant Detail page.
- When enabled, the order line item will reflect the default tax type assigned on the Company (if the Company has a default sales tax set). If not, the order line item will reflect the default sales tax you have set on your account.
- When disabled, TradeGecko will automatically assign a Tax Exempt rate on the order line item.