Tax Inclusive Accounting
Use Case: Implementing tax-inclusive pricing involves including the sales tax in the item’s total price paid by the customer.
For instance, if an item is priced at $100 with a tax rate of 10%, the customer pays a flat $100, with $9.10 collected as tax. To set this up, follow these steps:
- Navigate to the Sales Taxes and Charges section and locate the relevant tax in the table view. Expand the corresponding row.
- Enable the “Is this Tax included in Basic Rate?” checkbox.
The system will then calculate the tax accordingly.