Adding tax rates to your Scoro system allows you to easily sell and buy products and services with different tax rates. If you link default tax rates to different products and services, the relevant taxes are filled out automatically when compiling a sales or purchase document.
Tax rates can be created, modified and deleted by users with the appropriate permissions. To add or change tax rates, go to Settings > Sales and finance > Tax rates.
To add a new tax rate, click on Add tax rate.
You can only use active rates. A rate is active when it has been ticked as such in the list. To deactivate a tax rate, just remove the green tick from the checkbox on the rate line. To modify a rate click on the percent number or the name of the tax rate.
Set up a default tax rate for sales and purchase documents so the correct tax rate is chosen by default.
Tax/VAT rates can be used as line-specific, which means you can have different rates for different products and services on one document.
To activate line-based tax rates by ticking the checkbox Use line based tax rates.
You can add a default tax rate for each product or service by setting up the tax rate on the product card. Go to Settings > Sales and finance > Products and services, then open the relevant product card and add its default line-based tax rate.
Along with a line-based tax rate, the system enables by default a Round tax sums on lines to two decimal places setting, that rounds up the line sum up to two decimal points.
Note! This setting is recommended to use with a precaution when you're using simple product prices without detailed discounts.
If you do not choose to use line-based tax rates, then by default, your Scoro site will be set to use a document-based tax rate, which means that the rate you select at the bottom of the document will be applied to all product lines.