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Tax settings

This article gives an overview of tax management within Qoblex. The system allows you to create, edit or delete tax rates and configure the default behavior.

Add a new tax rate

Add your own tax rate if your organization needs more options than the default rates. Your tax rates can apply to sales, purchases, or both.

  1. On the Account Settings page, click Tax Settings.
  2. Click Add new tax rate.
  3. Enter a Tax rate display name
  4. Set the Tax rate type
  5. Add tax components
  6. Click Save & Close

Qoblex will automatically create all tax rates defined on your sale channels, such as Shopify, as sale orders get synced in.

Tax rate display name

The name identifies the tax rate in various parts of the system and on your transactions. It’s only shown within Qoblex. It doesn’t appear on your invoices, quotes, or other documents you send outside Qoblex.

Tax components

A tax component is a percentage rate applied to an item when you use the tax rate.

You can include as many components as you like in a tax rate. You can use the same component for both sales and purchase tax rates. If you have more than one component, any one of them can be a compound rate. Including a compound rate means the ‘effective tax rate’ is higher than the nominal rate. The effective tax rate is used to calculate the tax on a line item.

If you’re entering transactions that use a different tax rate for each line, you’ll see each tax rate and amount listed separately before the transaction total.

Edit a tax rate

  • The tax rate detail you can change depends on how Qoblex uses the tax rate and if it’s been used in transactions.
  • You can change the display name or the tax component description for all tax rates. Changes to a tax rate’s display name will apply to both existing and new transactions.
  • You can change the tax type
  • Changing the tax component percentage for tax rates will affect existing and new transactions

To edit a tax rate:

  1. On the Account Settings page, click Tax Settings.
  2. Click on a given tax rate from the Tax rates table to edit.
  3. Make your changes
  4. Click Save & Close

The tax edit dialog gives you the ability to map your tax rates defined within Qoblex and those defined within your accounting system, such as Xero.

It’s important to make sure that your tax rates are reflecting your account system like Xero to avoid any issues. If you use Xero integration in Qoblex, make sure you map your taxes correctly in Xero Tax Settings.

Delete a tax rate

  1. On the Account Settings page, click Tax Settings
  2. From the Tax rates table, click on a given tax rate to delete
  3. Click on Delete rate

Configuring default tax settings

Qoblex allows you to configure your default tax behavior, which consists of two main parts:

Define your default taxes:

  • Default sales tax
  • Default purchases
  • Default product tax
  • Default exempt tax (no tax)

Define your tax inclusive/exclusive behavior

  • Sale orders are created tax inclusive/exclusive
  • Purchase orders are created tax inclusive/exclusive
  • Product prices are tax inclusive/exclusive
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