Enable Global Setting for Taxes for all Transaction Forms

Overview:

Managing tax settings consistently across all transaction forms is crucial for ensuring accurate tax computations and maintaining compliance with tax regulations. QNE Cloud Accounting (QCA) provides a Global Tax Setting feature that allows users to set Tax Inclusive as the default for all transactions, eliminating the need to manually configure taxes for each form.

This guide outlines the steps to enable this setting, ensuring taxes are automatically applied to transactions like Sales Invoices, Purchase Orders, and other financial documents.

Scenario:

Your company wants to apply Tax Inclusive settings by default for all transaction forms to prevent errors and ensure consistency across financial records. Instead of manually setting tax preferences for each transaction, you can enable a Global Tax Setting that applies automatically whenever a new transaction is created.

Solution:

1. Enable the Global Tax Setting

• Navigate to Accounts and select Advanced Options.
  
• Click on the Tax Tab.
  
• Locate Tax Default Settings and toggle ON the option to enable Tax Inclusive as the default setting. Click Yes to confirm changes.
  

2. Verify Tax Inclusion in Transactions

• Create a transaction, such as a Sales Invoice.
• Check the tax section – the Tax Inclusive setting should be automatically enabled.
  
• Proceed with completing and saving the transaction.

Application:

For example, a retail business that issues Sales Invoices needs to ensure that all transactions automatically include the correct tax calculations. By enabling Global Tax Settings, businesses can:

• Ensure consistency across all transaction forms.
• Save time by eliminating manual tax configuration.
• Prevent errors in tax computation and reporting.

Applicable only on the following transactions:

General Ledger Module

• Journal Voucher
• Receipt Voucher
• Payment Voucher

Account Receivable Module

• Invoices
• Debit Notes
• Credit Notes

Account Payable Module

• Bills
• Debit Notes
• Credit Notes

Sales Module

• Quotation
• Sales Order
• Delivery Order
• Sales Invoice
• Sale Debit Notes
• Sales Credit Notes
• Cash Sales

Purchases Module

• Purchase Requisition
• Purchase Order
• Good Received Notes
• Purchase Debit Notes
• Purchase Returns
• Cash Purchases

With this feature enabled, users can streamline tax handling while maintaining accurate and compliant financial records in QNE Cloud Accounting.