We are excited to announce a new feature that will make tax calculations easier and more accurate for your business. Automatic tax calculations are now supported, allowing taxes to be automatically calculated based on the address details entered during checkout and the type of product purchased.
Seamless Tax Calculation: With this feature, taxes are dynamically calculated based on the customer's state and zip code, along with the product category. This ensures that your customers see accurate tax amounts at checkout, whether they are purchasing through order forms, online stores, invoices, or payment links.
US-Based Dynamic Tax Calculation: Automatic tax calculations work dynamically for businesses selling products within the US. For other countries, we continue to support manual tax rates, which can be directly attached to products and added to the subtotal during checkout.
Enable Address Collection: Make sure to enable address collection during checkout or ensure that a saved address is available in the contact details for invoice payments. This is crucial for accurate tax calculation.
Activate Automatic Tax Calculation:
Navigate to Payments -> Settings -> Taxes
and use the toggle to enable automatic tax calculation. You will need to:
Set Tax Categories for Individual Products:
Specific product tax categories can also be defined separately from the default category while creating or editing products under Payments -> Products
.
Taxes are applicable to both one-time and recurring products. The breakdown of the tax amount will be available on the order details and transaction details pages, providing full transparency to both you and your customers.
Configure Inclusive/Exclusive Tax Amounts:
A feature to configure whether the tax amount is inclusive or exclusive of the price is coming up next. Stay tuned for further updates.
Take advantage of this new feature to enhance your tax management process. For more information or to see the feature in action, feel free to request a demo or contact us.
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