QBO Tech Tip - Add Default Tax Codes to Customers
- All of my template workflows include details like this, and my Standard Operating Process Guides are start to finish standards for apps and internal processes.
This month’s QBO tech tip will save a ton of time for Canadians who have out-of-province, randomly exempt, and/or Zero-rated sales. There is a similar US setting as well, called Exemption details, but today is all about Canadian ProAdvisor and their customers’ accounts.
When setting up a customer, add a default tax code. Or when you notice that a customer (or your clients’ customers) doesn’t have a default tax code set up, open a fresh tab, search for that customer, click edit and do it immediately. The time savings of setting this up will save you a ton of time and reduce tax code errors immensely.
Now, every time you or your client goes to invoice that customer, the default tax code will auto-populate, overriding the one in the Chart of Accounts or in the Products & Services.
🪄This is absolute magic for your e-commerce clients! 🪄
Depending on how the sales are being recorded, you can set up customers by tax region or by product lines - whatever makes it the smoothest to record the sales with that customer type/location. This reduces using the Chart of Accounts and/or Products & Services by tax codes, taming their bloat.
On a similar note, adding tax codes to the COA and the P&Ss also saves time and reduces errors, so make sure you have added them there. COA, you can do it in batches to make it simple and quick.
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