For supporting public expenditure, most of the countries have a tax system. Tax is a mandatory financial charge by a governmental organization. Odoo support many types of taxes like value added a task, federal tax, Eco-tax, retention etc. For most countries, the chart of account you set up is automatically pre-configured with the main tax of the country. So in Odoo tax system is flexible. It is possible to create New Tax In Odoo easily.
There several Accounting modules in Odoo. Have a separate module for each country.
You have to install the accounting module as per your country or wanted.
Then go to:
There are some mandatory fields and other fields.
Set an appropriate name for the tax.
Sales, Purchase or None. It represent where to use tax.
In Definition tab
Allow to have compute tax as a group of taxes.
Tax amount as per tax computation.
Account where the tax journal item displays.
Tax Account On Credit Notes:
An account used in credit notes.
In the Advanced Option tab
Label on Invoices:
How you want this tax to print on the invoice line.
Where this tax is summed in the invoice footer. Example:VAT,Retention
Used for custom reports.
After filling the fields all you want, Click on Save button.
Then we can see this tax in product master as customer tax or Vendor tax.
After setting a tax for a product it will be automatically selected when we create a sales order or purchase order or invoices etc.
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