I added a custom tax rate (Federal and City Tax Rate). Is there any possibility that when I make an invoice to just show the total calculation of the tax? Example: Federal Tax- 0.5% and City Tax-0.5%. Both of them are 1%. Can the invoice show that 1% calculation instead of two calculation for the taxes?
No. Multi-component custom rates show all components.
Ok, in invoices it does shows all the custom rate of taxes, but in a Tax Report, is there a way that I can see all those custom rate of taxes detailed separately?For example: I would like to see how many corresponds to Federal Tax, and how many corresponds to City Tax sepparetly. If it is possible to do that, what’s the name of that report?
Unfortunately, reports for multi-component custom taxes are not that sophisticated.
If you give each component its own BS > Liabilities account then you can via the Summary tab.