Accounting and Invoicing - Odoo

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Taxes and VAT

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Learn everything you need to grow your business with Odoo, the best open-source management software to run a company, at https://www.odoo.com/r/NlF In this video, learn to configure your taxes and automate tax computation. Need more information about Odoo apps? https://www.odoo.com/r/cfi Discover Odoo, schedule a demo, or start your own Odoo revolution for free (no credit card required), at https://www.odoo.com/r/kASR

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1. Why is it essential to choose the correct country when creating your Odoo database?

To automatically translate all product names into the local language of that country. To ensure Odoo automatically installs the correct localization package and pre-configures local tax rates. To unlock a special discount on the Odoo subscription price based on the country's economy.

2. What is the difference between rounding tax on "Each Line" versus "Round Globally"?

Rounding on each line calculates tax per product, while rounding globally sums all lines first and then rounds the total tax. Rounding globally only applies to international sales, and each line only applies to local purchases. There is no mathematical difference; Odoo just uses two names for the same rounding method.

3. What does the "Tax Included in Price" option do in the advanced settings of a tax?

It adds a secret hidden fee that the customer cannot see on their final invoice. It automatically increases the product's weight in the shipping documents to cover the tax cost. It treats the product price as already containing the tax amount, rather than adding the tax on top of the price.

Accounting and Invoicing - Odoo

Taxes and VAT

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