Understanding Tax Master

Tax Master of Resto iQ is the control center for everything related to Taxes. This is where users can configure old and new tax that is relevant to their operations.

Overview

Tax Master of Resto iQ is the control center for everything related to Taxes. This is where users can configure old and new tax that is relevant to their operations.

To navigate, this is accessible by reaching Purchasing and then from the list below, select Tax Master.

The main table will display all currently existing tax and its relevant information.

Creating New Tax Descriptions

1. Tax Type - select whether this tax is considered as VAT or Withholding type.
2. Tax Code - enter the internal code used/recognizable by the management.
3. Tax Description - enter the name or tax description of this new entry.
4. Date
5. Tax % - enter the % rate for this tax type.
6. Tax amount - should it be relevant, enter the amount in ₱.
7. Inclusive - select Yes if the prices include this tax type onto the existing menu prices.
8. Tax on Net Amount - select Yes if this is applied on the net amount instead of the gross sales.