We have a stupid tax schedule in the US, where Food Service B2B business gets taxed on specific products, but others get no tax added at all. What is the solution to handle this? Is there an option to setup entire categories like: Tax Option 1 and define each master category with the tax and then the same for Tax Option 2 omitting any tax? Thank you in advance.
Create your accounts and taxes.
Specify a default A/R and A/P account on the customer.
Specify a default income account and expense account on the product.
Specify a default customer tax on the product.
Create a Fiscal Position in Accounting Settings to map different accounts and/or taxes based on the rules you are talking about.
Select the fiscal position on the related customers subject to this rule.
Please try to give a substantial answer. If you wanted to comment on the question or answer, just use the commenting tool. Please remember that you can always revise your answers - no need to answer the same question twice. Also, please don't forget to vote - it really helps to select the best questions and answers!
About This Community
|Asked: 2/16/16, 9:56 PM|
|Seen: 374 times|
|Last updated: 2/17/16, 2:21 AM|