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QuoteWerks Knowledgebase Topic (Article ID 6391)

Taxes - How are they calculated?

This information applies to :

Article ID
6391

Created/Updated
August 28, 2015

Category
Taxes

Are you using the most current release of QuoteWerks?
Version 24.0 Build 2
Question
How are taxes in QuoteWerks handled? For instance, are they calculated line by line, based on the subtotal and how are rounded?

Solution:
QuoteWerks performs tax calculations on a line by line basis. The tax is then rounded at the line level. QuoteWerks has modeled this behavior off of QuickBooks Accoutning by Intuit.

This is necessary when working with discount and charge line items. Thus, the taxes for these lines can be calculated properly.

*** For Canadian Users, the tax is calculated off of the Total Taxable amount on the document. The Total Taxable amount of items with PST is multiplied by the PST Rate. The Total Taxable amount of items with GST is mult by the PST Rate**

This applies to Local Tax, PST, and GST.

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