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PayTraQer - Tax Settings

To access the tax settings, click the settings icon located on the top right corner of the PayTraQer Screen.


Configuration for Sales Settings is common across all the payment channels. For illustration purposes, Paypal settings are shown here. However, the same configurations will be available for Stripe & Square.


For U.S QuickBooks



1. Enable Tax Processing

TURN ON this feature to bring the sales tax information from PayPal, Stripe or Square into QuickBooks.


ON: When turned on, PayTraQer sets the exact sales tax amount for your invoices and sales receipts in QuickBooks. PayTraQer handles inclusive or exclusive tax settings in PayPal, Stripe or Square and calculates the proper sales tax amount.


OFF: When turned off, PayTraQer adds the sales tax amount to the transaction total amount.  



For Global QuickBooks (CA, UK, AU, IN, SG & Other Countries)


1. Enable Tax Processing

TURN ON this feature to bring the sales tax information from PayPal, Stripe, or Square into QuickBooks.


ON: When turned on, PayTraQer sets the exact sales tax amount for your invoices and sales receipts in QuickBooks. PayTraQer handles inclusive or exclusive tax settings in PayPal, Stripe, or Square. It finds the accurate tax code (percentage) in your QuickBooks based on the tax amount.


OFF: When turned off, PayTraQer adds the sales tax amount to the transaction total amount. 


2. Common Tax Code

You can set the common/default tax code for all your sales if you don't want to have complex tax codes in your sales.


3. Exemption Tax Code

There could be non-taxable or exempted items in your sales. To sync these items details accurately, you need to select the Exemption/Zero tax, Tax Code.


4. The Inclusive Tax Processing 

Enable "Do you want to apply Inclusive of tax automatically for direct payments" to apply the inclusive taxes for your transactions.


Recommended when your payment systems does not record the taxes 

 

5. Shipping Tax Processing 

Configure "Common Shipping Tax code" to apply the inclusive shipping taxes for your shipping enabled transactions.


Recommended when your payment systems does not record the taxes 

 


Next

Fees Settings: Record the exact fee information from Payment Systems into QuickBooks.


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