To update the tax for all your items in bulk, you can use the Tax Update Module. This method allows you to efficiently apply the changes across all items in a very short amount of time and with ease.
Tax Update Module is especially useful in real-time business scenarios where tax rates change due to government regulations, seasonal promotions, or updates in tax legislation. Here are some examples of its real-time use:
Government Tax Changes: If a government announces a change in the sales tax rate (e.g., a rise from 8% to 10%), businesses can quickly update the tax rate for all inventory items in their system using this module. Instead of manually updating each product's tax, this tool enables a bulk update across all items in a matter of minutes.
Promotional or Seasonal Tax Rates: During special promotional periods (like holiday sales or clearance events), a business may offer lower tax rates for a specific category of products. The Tax Update Module makes it easy to bulk update the tax rate on these items without having to update them individually.
Steps to Update the Tax:
Navigate to Inventory > Master > Tax Update.
2. Here, you will be able to view the tax details for each item.
3. Click on Edit Tax to modify the tax percentage for all items.
4. Enter the new tax percentage.
5. Finally, click on Update to apply the changes.
If you want to update the tax for items in a specific category, follow these steps:
Click on the Category List.
The category list will open. Select the desired category.
All items under that category will be displayed.
Update the new tax percentage for all the items in that category.