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How to Setup Tax Master

In this Quick Reference Guide, users can learn what steps are needed to successfully Setup Tax Master

1. Log in to the Mosaic Analytics Inventory Console.
https://backoffice-console.mosaic-pos.com/

2. Click on the 3-lines to display the side-panel menu.

3. On the side-panel menu, click on "Purchasing".

4. Select "Tax Master".

5. Click "Add Tax Description".

6. From the drop-down list, select the following details registered to your account:
- Account Name (Registered Trade Name)
- Organization (Brand Name)

7. From the drop-down list, select the Tax Type.
Withholding Tax is deducted at source from payments made for goods or services, which is remitted to the tax authority on behalf of the payee as part of their income tax obligation.
VATable Tax is applied to the sale of goods and services, charged at each stage of the supply chain, with the final cost borne by the end consumer.

8. Enter the Tax Code.

Note: Tax Code is a designated code used to identify the type of tax applicable to a transaction, such as VAT, withholding tax, or sales tax, ensuring correct calculation, reporting, and compliance.

 9. Enter the Tax Description.
 
Note: Tax Description is brief explanation of the type of tax applied to a transaction, detailing its purpose, rate, and applicability (e.g., VAT, withholding tax, or sales tax) for accurate accounting and compliance.
 
10. Enter the Tax % and Tax Amount. Enter “0” if not applicable.
 
11. Select the setup date.
 
12.To activate tax settings and configuration, toggle the switches on by selecting "Yes".

Notes:

Tax Inclusive is the price of a product or service already includes the applicable tax, so no additional tax is added at the time of sale.
Tax on Net Amount is the tax is calculated separately and added on top of the net price of the product or service, resulting in a total amount payable.

13. Click "Save".