Tax Settings in MyPosBook - All-in-One-ERP Software & ERP Solutions
Tax Settings in MyPosBook - All-in-One-ERP Software & ERP Solutions for Business
Tax Rates, Tax Groups & Disabling tax Setting MyPosBook for Indian Users or other Country with GST support. Inline tax & invoice tax 1. Tax Rates, Tax Groups & Disabling tax Tax Rates To add new tax go to Settings -> Tax Rates -> Add Add a descriptive name (eg: “VAT@5%”) and specify the “Tax Rate%” Tax Groups Sometime you will need to apply multiple taxes to an invoice or purchase. So you should create tax groups by combining multiple taxes. To add a Tax Group – Click on Add Button, Give a meaningful name, select the tax you want to use in this tax group. The tax rate of tax group will be the sum of tax rates of Sub-taxes added. If sub-tax is edited the corresponding tax group’s tax rate will also get updated accordingly. You cannot delete a Tax if it is used in a Tax Group. Disable Tax Don’t add Tax Rates in settings Go to Settings – Business Settings. Uncheck “Enable inline tax in purchase and sell“ Uncheck “Enable Price & Tax info“ Select “Default Sale Tax” as None NOTE: If you disable the inline tax in the purchase and sell, the Price Inc tax column will not be shown in the POS screen. 2. Setting MyPosBook for Indian Users or other Country with GST support Tax settings: 3 Different taxes in India: CGST (Central Goods & Services Tax) SGST (State Goods & Services Tax ) IGST (Integrated Goods & Services Tax) Go to Settings -> Tax Rate setting. 1. Create a tax with name CGST@10% and Tax Rate %: as 10. (10% is for example only, use the tax rate applicable) 2. Create a tax with name SGST@10% and Tax Rate %: as 10. (10% is for example only, use the tax rate applicable) 3. Create a tax with name IGST@14% and Tax Rate %: as 14. (14% is for example only, use the tax rate applicable) 4. Below Tax rate, it shows “Tax groups ( Combination of multiple taxes )”. Create on Add, enter the tax group name as Intra-State-CGST-SGST and select sub-taxes CGST@10% & SGST@10%. 5. Below Tax rate, it shows “Tax groups ( Combination of multiple taxes )”. Create on Add, enter the tax group name as Inter-State-IGST, and select sub-taxes IGST@14%. With this now when you purchase or sell a product you can select the applicable tax. Displaying HSN Code for items (For some businesses) 1. HSN code depends on the category of a product. 2. Go to Settings -> Categories, click on “Add”. Add category name and category code. Category code is same as HSN code. 3. To display HSN code in invoice – Go to Settings -> Invoice Settings -> invoice layouts. Add/Edit invoice layout and click on ” Show category code or HSN code”. Save it. Assing that invoice layout to your business. Setting up invoice format for GST Check the details guide on invoice format & designs To display the summary of tax in the invoice – add the label for “Tax Summary Label” To see inline tax try using the columnized tax design or detailed design or Elegant or classic as per your need. 3. Inline tax & Order/Invoice tax With MyPosBook you can configure the inline and order/invoice tax. To Enable inline tax. Go to Settings -> Business settings – Taxes Click on Enable Inline Tax in purchase and Sell. Then click Update settings To Enable Invoice Order tax. Go to Settings -> Business settings – POS Click on Order Tax Then click Update settings FAQ? What is difference between inline tax and Order Tax? Inline Tax is applied to Product level, if product have different type of tax. Order Tax is applied against the order of the invoice, not at the individual product level Read the full article