Processing | Tax Rate selection per line
Please note that the material are courtesy of the IQ Retail training division.
Version:
2024.2.0.0 and higher
Overview:
The user will now have the option to select another tax rate by selecting the Tax rate in the processing modules.
This will also apply to the Point of Sale (POS) module.
To enable it for the POS module, please ensure you enable it under the Sales Options located in the Point of Sale --> Store Parameters.
Related Articles
Debtors / Creditors | ‘Preferred Tax Rate’
Version: 2024.2.0.0 and higher. Overview: The user will now have the ability to specify / select a ‘Preferred Tax Rate’ for Debtors / Creditors.Ledger | Account Maintenance | Set default TAX rate
Question: Is it possible to change the default TAX rate on IQ to normal TAX. The problem is each time I try to post a Cashbook entry the system sets the TAX rate to 0. Answer: Yes it is possible. Steps: Navigate to Ledger --> Account Maintenance. ...(South Africa 2025 | Proposed VAT increase reversed) SARS FAQs - Increase in VAT Rate 2025
Find attached PDF document from SARS' Frequently Asked Questions (FAQ) about the VAT Rate increase for 2025 by 0.5%.Processing | Invoicing | Pricing types
Question: What does the Type column indicate on the Processing --> Invoicing screen? Answer: The type field displays different types of pricing that is used once the stock item is entered. In other words that type field will display P0, P1, P2 etc. ...Value Added Tax - Guidelines
Basic guidelines on VAT