When setting up a new venue, it's important to initiate the correct taxes. Depending on your state and local laws, there are different ways to set up your taxes. POSaBIT makes it easy for you to customize your taxes for each venue.
Follow the steps below to learn how to set up Taxes in POSaBIT:
Login to the POSaBIT POS Portal.
Go to "Settings" then find "Taxes"
Click on "New Tax"
Here, you will input a single tax item:
Name - This is the name of the tax. An example would be "Seattle Sales Tax", "County Sales Tax", "State Excise Tax" and so on.
Tax Rate - This is the percent tax rate. This defaults to If you are doing a Flat Tax, you must input "0" in "Tax Rate" or it will give you an error.
Amount $ -Leave this blank if you are doing a percentage. To learn how to input a Flat Tax/Dollar AmountHERE
Include in Price - The tax will be included in the price of a product.
Is Active - Check the box to activate the tax. Since you can't delete the tax after setting it up, you can make it inactive.
Cannabis tax - This is from the state most likely.
Once you have entered in all required information for the "New Tax" press the button labeled "Save" to save and verify that all information was entered correctly.
Repeat the steps above to create separate taxes for each type of tax.
Now that you've created the different taxes, you can begin to edit the product types to reflect these taxes. Learn how to create Product Types here.
* For the next step, you will be on the Product Type page which can be found in the "Inventory" drop-down.
Inside the Product Type that you have selected, check the appropriate Tax Item on the list, this will apply the appropriate taxes at the time of purchase. Note: All of the "Tax Items" are checked by default. You must uncheck "Bag Tax" for non-bag product types (if you have a Bag Tax set up)
Default boxes checked for Tax Items
Taxes applied to this Product Type Taxes applied to the "Bag" Product Type
"Save" and verify that all information was entered correctly.
Things to note:
The Sales Tax can be written separately or as a combination of state and local taxes.
Almost always, taxes are included in the price.
The store is responsible for knowing all the right taxes! If needed, tell them they need to clarify before running transactions.
You can't delete a listed tax once it's created, but you can make it inactive.
