What’s New?
Businesses can now specify if the products are tax inclusive or tax exclusive to ensure that the right tax convention is followed based on their requirements.
This can be enabled for all the products to be created by changing on the Global settings i.e. Payments > Settings > Taxes OR on a product level while creating or editing the product.
On a Global level, 2 settings preferences exist – Tax Inclusive OR Tax Exclusive which is answered as a Yes or No to the question “Include tax in prices”.
On a product level, 3 settings preferences exist – Follow Global settings OR Tax Inclusive OR Tax Exclusive as answers to the question “Include tax in prices”.
If no selection is done at a global level, the default selection would be Tax Exclusive.
All products created in the past with Connectly would have default tax settings to “As per Global settings” which would ensure that as the global settings change, the preference for these products would also change. Users can go ahead and change these as well to inclusive or exclusive which would unlink them to the global settings i.e. even if global settings are changed, the products would have their preferred tax setting enabled.
Whenever a new product is created the default selection would be “As per Global settings” which can be changed to Tax Inclusive or Tax Exclusive.
While creating the product or editing it later on, the tax preference can be changed to Tax Inclusive or vice versa depending on the need.