Manage and calculate sales tax

Automatically calculate sales tax on transactions, and use reports to prepare sales tax returns.

Features

• **Customise sales tax rates: **Default sales tax rates are set up, initially to 0%, for tax on purchases, sales, and imports, and tax exempt. - Add or amend the default tax rates - Set up as many tax rates and components as required - Alter the tax rate on any line item if needed
• **Automated calculations: **Calculate sales tax on each line item in your invoices, quotes, purchase orders and bills. - The tax rate selected for each item is used to calculate sales tax - Sales tax on a transaction can be tax inclusive or exclusive, or no tax - Set up default rates for contacts, inventory items, and accounts
• **Prepare sales tax returns: **Run the sales tax report to gather information for completing sales tax forms for a selected tax period. - Get a summary of taxes by rate, component or account type - View an audit report with sales tax software to see the individual transactions - Sales tax figures can be generated using the cash or accrual basis