Odoo Accounts

Tax configuration in Odoo

Tax configuration in Odoo

In Odoo we can create a different type of taxes and create any complex tax structure.

A new tax can be created from;

Accounting > Configuration > Accounting > Taxes

In the above picture, you can see the mandatory fields for a tax.

  • Tax Name

Name of the tax

  • Tax Scope

Where to use this tax. If you select ‘None’, you can only use this tax with other tax groups.

  • Tax computation

Odoo have four different types of tax computation

  • Group of taxes
  • Fixed
  • Percentage of price
  • Percentage of price tax included

Some other options are

  • Tax account

The account, that will be used in the invoice tax lines. Later, journal entries are created using this account. If we leave it empty, then Odoo will take the default debit/credit account of Journal.

  • Tax account on

The account used in case of refund entry.

  • Label on Invoices

This can be used on the invoice report to represent this tax. We can add custom tags to create custom reports.

  • Include in analytic cost

If we set this option, then the amount computed by this tax will assign to the same analytic account mentioned the invoice line.

  • Included in price

Set this option if this tax is included in the unit price of the product/service.

  • Affect base of subsequent taxes

If you set this option, Base amount of subsequent taxes will be a sum of current base amount and tax amount of this tax.

  • Tax adjustment

Set this option if you want this tax to be used in tax adjustment wizard.

  • Group of taxes

This option allows us to configure the tax as the collection of many child taxes. Odoo will make visible the table to select the child taxes when you select this option as tax computation method. Group of taxes is important in creating the complex tax structure

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