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Taxes

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The Taxes page enables you to set up taxes within Unleashed. If you have Unleashed in standalone mode (not connected to an accounting provider) you need to make sure that all tax rates are entered manually. If you integrate with an accounting provider, you can create taxes automatically via your configuration page. If there are component taxes, then Unleashed calculates the effective tax rate.

Unleashed does not support the Margin scheme tax for Value Added Tax (VAT). 

 

Points to Note

  • Tax rates for the Product will always override the Supplier/Customer tax rate.
  • If there is no Product tax rate, Supplier/Customer tax rate will override Default tax rate.
  • You can setup the Product, Supplier and Customer tax rates on the respective pages.
  • Once you add a tax rate, you cannot delete it. However, you can mark it as Obsolete provided it is not assigned elsewhere.  If it is assigned on open orders or products, customers or suppliers, an error message will display:
  • An Obsolete tax can be re-instated by unchecking the Obsolete box.
  • The first two tax rates (No Tax, NONE) for Sales Tax and Purchase Tax are system taxes and cannot be Obsoleted.

Setting Up Taxes

  1. Go to Settings | System | Taxes. 
  2. "No Tax" for Purchases and Sales are setup by default.



  3. To add a new tax rate:

    • Click the "Add" button in the top right of the screen
    • Type in the required values for Tax Description/Name, Tax Code, and Tax Rate fields
    • Select the Sales Tax and/or Purchase Tax check box
    • Click Add. The new tax will be displayed in the list

Mapping Integrated Accounting Provider Taxes

If you have connected to an accounting provider, you can map the taxes as described in the following section.

  1. Go to Integration | Integration Store | Xero or QuickBooks.
  2. On the Configuration tab, in the Setup your Xero Taxes section:
    1. Automatic sync: Click AUTO SYNC TAX CODES and the codes will be synced automatically on the Taxes page.
    2. Manual Sync: Click Let me manually do this. This will open the Taxes page and you can map the taxes. 
      • Choose the Accounting Tax from the drop-down list.
      • The Accounting Tax drop-down list will only show valid accounting taxes to be mapped.
      • Tax rates must match, e.g. 15% in Unleashed = 15% in accounting provider.
      • The sales tax and purchase tax flags on the tax must match, e.g. Sales Tax in Unleashed must be matched to a sales tax in the accounting provider. 
Note:  A warning message is displayed if you unmap (clear) the accounting tax field.  This is a reminder that any unexported purchase or sales orders could fail if they are using that tax rate.
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