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Hi there QBOL SA,
So, I'm new the the product, but am an I.T. guy and have worked with other Accounting packages.
I've experienced a 'alleged' problem with the Import of Products using an .xls file as source data.
Using the QB supplied sample layout, I flagged both 'Sales' and 'Purchases' Tax columns as "Standard"
The 'Import' functioned without reporting errors.
However, now when selecting a Product on an Invoice, the Tax column is blank and I have to select from the drop-down list.
The solution is going to 'edit' the product and selecting "Standard (15%)" from the drop-down. Then going back to New Invoice, selecting the edited product and the tax rate appears.
QUESTION: Why does the import not update the Product Tax rate?
I'm here to shed light on this matter, Capstone-33.
Currently, QuickBooks Online doesn't have a dedicated column or mapping option for tax rates when importing products and services. VAT can vary based on different factors. Due to the flexibility of tax regulations across different jurisdictions, we'll have to enter the appropriate rate manually after the items are imported.
By doing this, we can ensure that the correct rate is applied to each product or service based on their specific requirements. Plus, it also allows for easy updates to comply with changing laws or policies.
We aim to provide an adaptable platform that can accommodate the diverse needs of businesses. To help improve your QuickBooks experience, I recommend sending feedback to our Software Development Team. Here's how to do it:
To learn how to personalize your sales forms and categorize the items you sell, check out these articles:
If you have any other questions or concerns about this topic, please do not hesitate to post them here. You can always count on me. Have a great rest of the day!
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