You may need to adjust your existing tax rates due to changing tax requirements. Note that when you replace your existing tax rate with a new tax rate:
- Tax-inclusive stores: retail prices won't be affected. Only the tax amount will change.
- Tax-exclusive stores: retail prices will change according to the rate change, as the tax amount is added on top of the retail price.
To replace an existing tax rate with a new tax rates for all products and outlets:
- Click Setup.
- Click Sales Taxes.
- Click Add Sales Tax.
- Type in the new Tax name and Tax rate (%). The new tax rate cannot have the same name as an existing tax rate.
- Select the checkbox for Change the tax used by outlets and products to this new Sales Tax, instead of an existing Sales Tax...
- Click on the drop-down under Existing Sales Tax to select the tax you want to replace.
- Click Add Sales Tax.
If you want some of your products to still use the existing tax:
- Create a new tax rate by following steps 1-4 above.
- Leave the checkbox unchecked for Change the tax used...
- Click Add Sales Tax.
- Update the product tax by using a spreadsheet.