Sales Tax Groups and Combined Tax Rates
Does your State or Country have Combined tax rates? If you are not sure, you might want to ask your Accountant.
Some of our Customers have a need to split out the Sales taxes based on how they are paid to the local government offices in the State, Counties or Principalities. This article will help explain how to do this in shopVOX. This information is useful for Quickbooks accounts and Xero accounts.
Setup the Tax Rate in shopVOX using the Sales Tax Name from Xero. Enter the combined rate as the Tax Rate.
Setup the Tax Rate in shopVOX using the Sales Tax Group Name from QuickBooks. Enter the combined rate as the Tax Rate.
Check the "Has Split" checkbox.
Enter each individual rate included in the Sales Tax Group in the Tax split field in the following format:
For example, the following shows a Sales Tax Group/Combined Rate in QuickBooks Online:
In shopVOX, this would be setup as follows:
It is not necessary to setup each of the individual tax rates in shopVOX unless you use them as separate tax rates.