Correct handling of sales TAX for US customers
In the USA, (California for sure), we are required to calculate and report all sales tax collected and paid. As a vendor with a resale license, I can choose to pay tax at purchase, or defer and not pay tax at purchase if the item is to be re-sold. When I sell a product, I am required by law to collect sales and use tax for the jurisdiction in which the item is sold/used.
When I was using the USA version of Zoho Books, I was unable to track sales tax on purchases (no spot in the bill to apply sales tax). I then changed to World version, which allows me to track sales tax on purchase nicely (Inclusive or exclusive, and multiple jurisdictions). Unfortunately with the World version, I cannot produce a TAX Liability report, which is required by my state (California) for the purpose of filing my tax reports.
This should be pretty standard fare for anyone in USA who buys and sells products. We HAVE to be able to track sales tax spent, and collected, and the difference goes to the state. Please Please Please either add the tax features for purchases for USA version, or provide a tax liability report for world customers... I don't care which, but I need the functionality. I don't want to change products again, but if we can't get this basic function, we'll be forced to.
Sean Garland
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Ian Nicholson commented
I've had no problem getting Zoho to add sales-tax to my invoices using the USA version. The tax information must be entered in the Settings so that you have options to choose from when invoicing.