One important feature of Odoo's accounting module is the ability to handle tax calculation and management. #odooaccounting
Odoo allows businesses to set up their tax structure based on whether the taxes are included in the price or excluded from the price.
There are several business cases for using tax included and tax excluded in
Odoo:
1) Tax included pricing means that the displayed price of a product or service includes all applicable taxes and duties. When the customer buys the product, the price they see is the final price they pay.
This approach is common in retail and customer facing businesses.
2) Tax excluded: In this case, the tax amount is not included in the price of the product or service. This approach is common in business-to-business (B2B) transactions, where the buyer is usually a registered business that can claim back the tax amount. By excluding taxes from the price, the business can show transparency in pricing and allow the buyer to see the exact tax amount they need to pay. #odoo16
In summary, using tax included and tax excluded in Odoo provides businesses with flexibility and compliance with tax regulations. It allows businesses to customize their tax structure based on their specific needs and provides transparency in pricing for customers and buyers.