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Manage Taxes with Aqxolt ERP

Wikis > Manage Taxes with Aqxolt ERP
Aqxolt ERP enables automation in tax calculation and eliminates manual processes that are subject to human error. Automation could result in performance improvements and savings.

Taxes in Aqxolt ERP can be assigned in the following ways;

  • Assign the taxes on Addresses
  • Assign the taxes on the Account
  • Assign the taxes on Products

Create a Tax Record

  • Create a Tax record by navigating to the Order Management app > Tax tab > New.
  • Enter the Tax Code and select the Effective Date and Expiry Date.
  • Select the Type of the tax, as well as the Country and Province to which the taxes are applied.
  • Select Primary Tax Code if one exists, and select the Active checkbox.
  • Click the “Save” button to create the Tax.

Assign the Taxes on Addresses

  • To assign taxes on addresses, navigate to the Order Management app > Accounts tab.
  • Select the Account whose Address must be assigned a tax code.
  • On the related tab, click on the Address to open the Address record.
  • Click the “Edit” button and select the Tax code.
  • Click the “Save” button to apply the changes. When the record is saved, a tax code is assigned for an account’s address.

Assign the Taxes on the Account

  • Navigate to the Order Management app > Accounts tab.
  • Select the Account that needs a tax code to be assigned to it.
  • Click the “Edit” button and select the Tax code.
  • Click the “Save” button to apply the changes. When the record is saved, a tax code is assigned for a customer account.

Create Tax Plans

  • Create a Tax Plan record by navigating to the Order Management app > Accounts tab.
  • Select the organization account and click on the Related tab.
  • Click the “New” button and enter the Tax Plan Code.
  • Select the Type of tax plan and enter the Tax Rate.
  • Click the “Save” button to create the Tax Plan for the product.

Assign the Taxes on Products

  • Navigate to the Order Management app > Products tab.
  • Select the Product that needs a Tax Plan to be assigned to it.
  • On the related tab, click the “Edit” button on the Price Book and select the Tax Plan.
  • Click the “Save” button to apply the changes. When the record is saved, a tax plan is assigned for a product.

Fields to Note:

Field Description
Tax Code Describes the tax category that must be considered when assigning a tax to the account, address of the account when making a tax return to the tax authorities.
Primary Tax Code Describes the primary taxes associated with the tax code.
Country Tax codes are unique for every country. This describes the country for which a tax code is created.
Province Every province differs in tax rate. This field describes the province for which the tax code is created.
Type Describes the type of the tax, whether it is a sales tax, service tax or VAT.
Effective Date Describes the date from when the tax code is effective for use.
Expiry Date Describes the date from when the tax code can no longer be used.
Tax Rate Describes the percentage of tax given to the tax code.
Total Tax Calculates the sum of primary and the tax rate.