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    Odoo POS Price Inclusive For Group Taxes

    Include tax in bill total with Odoo POS Price Inclusive For Group Taxes!



    • Let you calculate the correct taxes for invoices.

    • Adds the percentage together first and then calculates the correct tax.

    • Specify the tax in the mentioned sales price.

    • Also, set the total tax as the sum of percentages of the components in the backend.

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    Group taxes in Odoo POS with Odoo POS Price Inclusive For Group Taxes!

    Taxation is a crucial part of any government’s revenue, and they want all businesses to pay them on time. Moreover, the average tax rate in the US for small businesses is 19.8%, as per the report of the Small Business Administration.

    Hence, collecting the correct tax from customers and providing proper invoices is also very important. But how to gather accurate taxes?

    Odoo POS Price Inclusive For Group Taxes modules help you calculate correct taxes for invoices in POS. Moreover, for calculating the right amount of tax, the module first adds all the percentages together and then calculates the right and correct tax of the invoice.

    Specify the tax to be incorporated in the mentioned sales price. And total tax as the sum of percentages of the components in the back-end.

    Odoo POS Price Inclusive For Group Taxes

     Prerequisites For Using Odoo POS Price Inclusive For Group Taxes Module

    Odoo POS Price Inclusive For Group Taxes works in conjunction with the following module:

    Odoo Price Inclusive For Group Taxes

    You need to install this module first for Odoo POS Price Inclusive For Group Taxes to work correctly.

     Formula To Calculate Correct Taxes

    So currently, the Formulae used by the Flow of Odoo POS for Sales Price(SP) is as follows:

    Group Tax = {SP-(SP/(1 + 9/SP))} + {SP-(SP/(1=9/SP))}

    Now, suppose the Sales Price(SP) of Product A is 100.

    So, integrating the SP into the formula would result:

    GroupTax = {100-(100/(1 + 9/100))} + {100-(100/(1 + 9/100))}

    GroupTax = 8.25688073 + 8.25688073

    Total Applied GroupTax = 16.5137615

    However, The right formulae for price inclusive tax is as follows:

    Formula = SP - (SP / (1 + rate/100))

    Where Rate is the Group Tax, i.e 18%.

    So, integrating the SP in the new formula would result:

    Formula = 100 - (100 / (1 + 18/100))

    Calculating the default formulae with the Sales Price as 100 and rate (GroupTax) as 18% (9% + 9%) then the expected tax would be 15.2542373.

    It makes a 1.2595242 difference from the expected amount. Hence, it may lead you to pay more tax than you actually need to pay in POS.

     POS Price Inclusive For Group Taxes Features

    Compute Accurate Taxes In Odoo POS

    • The module calculates correct taxes for invoices in POS.
    • Also, it adds the percentages together first and then calculates the correct and correct tax.

     Manage Group Type Rates And Their Taxes In POS

    • With this module, manage include/exclude taxes for group type in POS.
    • It allows POS users to manage tax rates for group tax.
    • Corrected major issues for including tax calculation (Group Tax) in POS.

    Configuring Tax In The Odoo Backend

    • Configure the tax percentage in the Odoo backend easily.
    • Choose to activate or deactivate the tax with just a click.
    • Select the tax computation method from the listed options.
    • You can also choose to include or exclude tax from the price.
    • Define the tax division in the definition tab of the page.
    • Also, you can add the tax scope while configuring the taxes.
    • You can also add the minimum amount as per the applicable law.
    Configuring Group Taxes

     Adding Group Tax On The Odoo POS

    Adding Group Tax
    • Configure different taxes for different products.
    • The tax is recalculated on adding each product to the POS.
    • The total tax will be added below the total amount of the product.
    • The tax is calculated based on the price and all-inclusive taxes.
    • Also, you can configure different taxes for a particular product.
    • The amount of tax is mentioned in the invoice with details.

    Odoo POS Price Inclusive For Group Taxes-

    Webkul's dedicated support provides you with the customizations and troubleshooting solutions for Odoo POS Price Inclusive For Group Taxes.

    For any query or issue please CREATE A TICKET HERE

    You may also check our other top-quality Odoo Extensions.

    Specifications

    Product Version1..0.0
    Released1 year ago
    Last UpdatedDecember 7, 2023 (3 months ago)
    Supported VersionsOdoo  12.x  13.x  14.x  15.x  16.x  17.x  
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