When purchasing an item, taxation for the item differs from one region to another. In some countries, only sales tax can be levied for certain products whereas in countries like Canada, levying multiple taxes for an item is legitimate in their tax policy. However, to make this taxing process unrestricted for all users, we have enabled this feature that supports adding multiple taxes on a single item.
From now on, admins from countries such as Canada, which allows multiple taxing will find no hindrance in our software in levying multiple taxes for any item such as rent, merchandise, services, and insurance. Also, it supports 3 decimals with the tax rates, which would be helpful for clients from cities like Quebec for whom the tax rates have 3 decimals.
Moving further, this feature may prove to be beneficial for admins from other countries as well, provided there may occur relevant changes in respect of their tax policies. With 6Storage software, you can easily add, enable, disable, and delete multiple tax rates. Tax Rates can be added to Rental, Insurance(s), Service(s), and Merchandise(s).
Here’s how you can add a new tax:
Go to Settings >> Financial Settings >> Tax
Click on ‘Add Tax’
Enter the Tax rate details (Tax Name, Tax Rate, Applicable Location and Applicable Line Items)
Once you entered all the details, click on the ‘Save’ Icon.
Here, you can add multiple tax rates for the same location for different line items.