When the product is sold, the tax will apply to the product and be calculated with the sub-total amount of the product. It is possible that the different tax rates will be varied to the product as per various locations or regions.
How tax rate will configure under FTx-Cloud POS: “Tax Rates > Tax Groups > POS Flags > Departments > Products fall in the specific departments”
- Tax Rates: Configure the rates of the tax and these rates will be location specific. (This is explained in this KB Article.)
- Tax Groups: Tax Rates will be added to the Tax Group. Whatever tax rates (single or multiple) are applied to the product, must be assigned in the Tax Group.
- POS Flags: The tax group will be assigned to the POS Flag along with age restriction & excise tax if applicable. It is possible that one Tax Group could be assigned to multiple POS Flags.
- Department: The POS Flag will be assigned to the department so that the products that fall into the department will be classified into a specific tax group, age restriction, & excise tax if applicable. It is possible that one POS Flag could be assigned to multiple departments.
- Products/Items: Only one department will be assigned. The department is to classify the products into specific tax groups, age restrictions, and other options.
Understanding the Tax Rates main page
By clicking the "Taxes" from the left panel, the Tax Rates page will be redirected by default. See Figure A below.
1. You will see the list of the existing tax rates in the grid view.
2. From the grid view, the Tax Groups column represents the tax rates that are assigned to the specific group. You can see more than one group name if it is assigned to multiple groups. The tax rate that is not assigned to Tax Group yet, will be indicated as N/A.
3. Min and Max columns are the minimum and maximum taxable rates of the Tax.
4. Edit Tax Rate: This button helps the user to modify the details of the tax rate.
5. Delete Tax Rate This button helps the user to remove the tax rate.
6. Add New: This button helps the user to add a new tax rate.
Adding New Tax Rate
Follow the steps mentioned below to add a new Tax Rate:
- Click the "Add New" button that is highlighted in Figure A to add the new Tax Rate.
- After clicking the "Add New" button, the form highlighted in Figure B will appear on the screen.
You will see the fields of the Tax Rates as shown in Figure C above.
1. Name: Enter the name of the tax rate. (The Tax Rate name would be similar to taxes that are applied on selling the products so it will be easy to identify the tax.)
2. Account Number: Select an existing Pricebook Zone from the drop-down selection. This field will copy the settings of the selected Pricebook Zone for the new Pricebook Zone i.e., Product’s Cost & Price.
This will help to avoid manual entry with the common settings so reduce the time for the new Pricebook Zone.
3. Rate Locations (Change All): Enter the specific tax rate value for all the locations (stores) with just one click. The "Change All" section is explained individually.
4. Tax Rates (Location-wise): You will see the lists of the locations (stores) with the Tax Rate value (%), Flat Tax value, and Occupational Tax value (%). Enter the applicable tax rate values manually.
Note: The "Tax Rate" & "Occupational Tax" values will be in a percentage (%) while the "Flat Tax" value will be in flat value.
Note-1: Assigning Tax Rate to Tax Group
Once you create the new Tax Rate, the admin user can assign it to the Tax Groups where the tax rate is applicable. See Figure H.
How to assign Tax Rates under the specific Tax Group that is provided in the individual KB Article of Tax Groups.
1. You can see the existing tax rate details.
2. You will get two additional buttons named: "Delete" & "Print" from the tax rate editing page.
- Delete: By clicking on the "Delete" button, you can delete the tax rate record and remove it from the system. If you click, the warning message will pop up on the screen to confirm the deletion.
- Print: By clicking on the "Print button", the tax rates will be downloaded in PDF and then print out as per need.
3. Buttons: Once the tax rate values are updated, save the tax rate details. (Save buttons explanations will be similar to “Adding New Tax Rates”.