V8 - Discounts, deposits, and sales taxes

SOS Inventory supports discounts on sales transactions, deposits on sales orders and invoices, sales taxes, and taxes for our international customers outside the United States.

Discounts and deposits

Discounts are shown in two areas of the sales form. If the Enable line-item discount on sales forms is selected in the Sales settings (Settings > Sales settings > General), a column will appear in the Items area of the sales form for the line-item discount. To record a transaction discount, simply enter it in the discount box on the sales form. If syncing with QuickBooks Online, you must have discounts enabled in QuickBooks Online, or the discount will not sync properly.

Customer deposits or advance payments can be tracked on sales orders and invoices in SOS Inventory. When included on an invoice, the deposit will flow to QuickBooks Online as a payment on the invoice.

If syncing with QuickBooks Online, you must have deposits enabled in QuickBooks Online, or the deposit will not sync properly. If you are not enrolled in SOS Inventory’s SOS Pay feature, you must record the actual payment (check, credit card, etc.) in QuickBooks Online. SOS merely records the deposit for tracking purposes. 

Enabling discounts and/or deposits in QuickBooks Online

To enable discounts and/or deposits in QuickBooks Online, under Gear > Account and Settings:

1. Go to the Sales tab. Under Sales form content, enable Discount and/or Deposit.
2. If you enabled Discount under the Sales tab:
   1. Go to the Advanced tab.
   2. Under Chart of accounts, choose the associated Discount account.
3. If you enabled the Deposit setting, deposits will automatically go to your Undeposited funds account.)

Sales taxes

All sales forms in SOS Inventory support sales tax. The way tax is handled depends on whether your company is linked to QuickBooks Online.

If your company is linked to QuickBooks Online, SOS retrieves all your sales tax rates from the Sales tax center (on the left menu, go to Taxes > Sales taxes) in QuickBooks Online. Those rates cannot be edited directly in SOS. If you need to change them, you must change them in QuickBooks Online and then synchronize them to SOS. When creating a sales transaction, if you are using the automated Sales tax center in QuickBooks Online, you will see a statement on the sales form informing you that QuickBooks will calculate the taxes. After the transaction is saved and synced to QuickBooks, QuickBooks Online calculates the appropriate tax and syncs the transaction, with tax included, back to SOS Inventory.

If your company is not linked to QuickBooks Online, you can set a default tax rate under the General tab of the Sales settings page (Settings > Sales settings). In addition, you can set a different default tax rate for each location by using the Locations list (Company menu > Locations) to edit each location. Finally, you can override the tax rate on any given sales form if you wish.

Taxes for international (non-US) accounts

For our international customers, your QuickBooks Online Tax Center allows you to define separate purchasing and sales taxes, as well as combined taxes and others like VAT tax codes. When adding your items, you can define default purchase and sales tax codes. On transactions, you must provide a tax code for each line item on the transaction. When you add items to transactions, it will display either the default sales tax from the item definition as part of a dropdown list of available sales taxes on sales forms, or the default purchase tax from the item definition as part of a dropdown list of available purchase taxes on purchasing forms.

If your SOS account is not connected to a QuickBooks Online account or is connected to one that does not have a tax center defined, then you can leave the tax blocks blank.