I would like to know if (and how) the software can handle invoices when taxes are calculated like in my area (Province of Quebec, Canada):
Quote price + (7% of total price) + ((total price + 7%)*7,5%) = grand total on invoice and to be tracked in A/R
Here, Federal tax is 7% and Provincial tax, calculated on top of Federal tax, is 7,5%
Does T3000 accomodate this?
To implement the tax scheme, please do the following:
First of all, you need to enter the necessary taxes and discounts to TO3000:
1. Open the menu Business Settings > Taxes page and create a new tax (Provincial tax = 7.5)using New button(see taxes.jpg)
2. Then create the markup: menu Business Settings > Discounts/Markups page and create the new record (Federal tax = 7) using New button (see markup.jpg)
Then create the new Invoice and in the New Invoice window:
1. Add the necessary Jobs, etc.
2. In the corresponding drop-down lists select the newly created markup and tax (see invoice.jpg).
3. Select the necessary template.
You will need to select these markups/taxes whenever you need to use the taxing scheme you described.