How do taxes apply to my products and transactions?
Wollette allows you to apply tax rates to products, ensuring that all transactions reflect accurate tax charges in line with local requirements.
1. Tax is assigned at the product level
Each product in your inventory can have one or more tax rates assigned to it. This is done during product setup or editing in the stock management area. Taxes can also be inclusive or not in the price.
2. Support for multiple tax rates
You can assign multiple tax rates to a product if required (e.g. state and federal taxes). Wollette POS will combine these as per your configuration.
3. Automatic calculation at checkout
When a taxable product is added to a sale, Wollette automatically calculates and applies the correct tax rate. The tax amount is displayed in the transaction summary and included on the receipt.
4. Tax reporting
All applied taxes are tracked within your sales reports, allowing you to monitor tax totals by sales, branch, or date range for accounting and compliance.