If you've noticed that the tax calculated by your system doesn't match the amount you've actually collected, you're not alone. Here's a simple breakdown of why this happens and what you can do about it:
What’s the difference?
Calculated Tax: Automatically generated by your system based on product settings and tax rules.
Collected Tax: The actual tax amount received from customers.
Common reasons for discrepancies:
Incorrect Product Setup:
Products tagged incorrectly (e.g., taxable vs. exempt).
Missing or Incorrect Exemption Certificates:
Exempt customers or transactions without valid certificates properly applied.
Manual Adjustments or System Issues:
Manual changes after the initial calculation.
Temporary system glitches (rare).
Outdated Tax Rules:
Your system wasn't promptly updated after tax rule changes.
How can I fix this?
Verify your product settings for accurate tax categorization.
Ensure all exemption certificates are correctly recorded.
Check transactions with discrepancies for manual adjustments.
Keep your system updated with current tax rules.
By regularly checking these points, you'll keep your tax calculations accurate and compliant.
We’re here if you need anything. Just click the chat bubble in the bottom-right corner to reach our support team.