QwikQuote Home Tech Support FAQs
How does the tax system work in
QwikQuote?
QwikQuote automatically applies the state, international, or
any other tax rate found in the
Tax Rate table to the current quote based on the customer you choose. For instance, if you
have established a tax rate for New Jersey, and you choose to sell to a
customer in New Jersey, the New Jersey tax will be automatically
applied. You can also override this automatic calculation when you
create your quote.
BENEFIT: Many quoting programs claim to handle tax calculations, but only provide a field for you to type a number. Their users must hand-calculate the taxes, which is time consuming and subject to error -- especially given the complexity of tax rules. QwikQuote makes it easy to calculate taxes around the world accurately and quickly.
Establishing your tax rates
Click on the Options button, then the Tax Rate tab to access the
tax rate table. Then, simply click on the [Add] button to create a
new line in the table and enter the initials for the state or province,
the name of the tax and the rate. You can add a second tax rate if
necessary. 4% is entered as
4.000 (not .040). If you are not sure about tax rates, you can look
them up at these Internet sites:
US
State Sales Tax Rates
Canadian
Sales Tax Rates
International VAT Taxes International
VAT & GST Rates
QwikQuote calculates both "Simple" and "Compound" taxes. Simple taxes are added together; for instance, 7% plus 8% equals 15% of the purchase. Compound taxes are multiplied after applying the first factor. For instance, if an item sells for $100, the compound tax might be $100 x 7% = $107 -- further compounded by 8%: $107 x 8% = $115.56.
To add a tax rate to the Tax Rate table, click on the [ Add ] button in the Tax Rate tab, and fill in the form. 4% is entered as 4.000 (not .040).
Tax rate table in
QwikQuote Options
Bottom of Quote Screen showing PST and GST simple taxes, plus
calculations in Euros
Overriding the tax calculation
Click on the [ Tax ] button and enter either a calculated amount or a
percentage of the Sub-total.
Tax Override Box
Tax Rules for Individual Items
Not all tax authorities tax
all items in the same way. You can set tax percentages, VAT
percentages and tax rules by part number in the Catalog screen for that
item:
Tax fields in the Catalog screen