Odoo is a versatile ERP package that can handle any real-time business needs. In a real-time scenario, generally, the trade or transaction may involve interstate or international dealings. In such dealing often the complicated things are the different tax rates. For example, a product may have a 10% tax rate in one state and maybe 15 % in another state. How to handle such a situation in Odoo? The answer is Fiscal Positions. We can map Taxes as well as Accounts in Odoo fiscal positions.
- Tax Mapping
Here this product’s vendor tax is configured as VAT 10%. What if I cannot purchase this product from some vendors with this tax rate (assume the tax rate is more than 10%, let’s take it as 12%). In this case, we can use tax mapping of the fiscal position
Now specify this fiscal position on partner master. So that you can use the mapped taxes while purchasing the product.
Tax mapping is also useful when we need to apply more than one tax on a single product.
- Account Mapping
The fiscal position provides one more feature ‘Account Mapping’ through which we can set/change Relative Tax accounts based on different customers/countries.
Accounting > Configuration > Accounting > Fiscal Position
You can refer our previous blogs , for more info about odoo accounting and odoo accounting features those blogs will help you to get a better picture about odoo accounting.