Updating VAT Sales Intellect

Updating VAT Sales Intellect

Step-by-step Process

Step 1: Go to Tax Settings

  1. Log in to Sales Intellect from the admin.
  2. Navigate to Settings → Financial Settings → Tax Rules.
This is where all tax rules are created and managed.

Step 2. Update the Tax Rates

  1. For the tax rule you want to edit,
    1. Consider leaving it as it is for historical data, and
    2. Creating a new Tax Rule.
  2. Set the Tax name to the appropriate new Tax name that matches the Tax rate.
  3. Set the Tax rate to the new tax percentage you want to use.
  4. Save changes.

Step 3. Apply updates

  1. Navigate to the inventory, and select "Create/Edit" on each item.
  2. Click on the Tax option and select the new tax rule you have made
  3. Click "Save" to apply the new tax rule to the item.
  4. Repeat for all inventory items that need to use the new VAT.
  5. Create a test invoice to see if the tax rate reflects. Check if the products you have chosen are making use of the new percentage.

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