The Tax Bot is ideal to accurately record VAT or other Sales Taxes on purchase or on Sales transactions posted in your book.

On Posting a transaction in your book the Tax Bot checks both accounts their properties if one of them has the tax_rate property. If so, it will automatically record another transaction based upon the amount and the tax_rate property of the posted transaction.

The Tax Bot reads Custom properties from your book, to calculate the amount of Tax to record in another transaction.

The Tax Bot works for both, Sales as well as Purchase transactions and it can reflect both included as well as non included taxes.

Setting up and using the Tax Bot:

  1. Install Tax Bot:
    - Go to "Automations Portal" in your book.
    - Choose Tax Bot
    - Click install

In your book on the transactions page you will see the Bot working alongside with you. When you not see the bot logo on your book, it is not installed correctly.

2. Create accounts:

  • Create an incoming account for a service you sell (example: Product A)
  • Create an Output tax (liability) account.
  • Create an asset account (example: Bank)

2 . Then, add the custom properties to the incoming account (example above: Product A). The properties are:

  • tax_rate: The tax rate to apply to the new transaction. Negative for non included taxes.
  • tax_description: The description of the generated transaction

3. Post your transaction: Product A > Bank

4. Now each time you record a transaction for selling Product A the Tax Bot detects the tax_rate property, calculates the amount of tax and records another transaction for that amount to the Output tax account.

Take a look at these examples:

You manufacture Product A from the Materials A and Materials B. On Product sales register 7.25% Sales Tax and on the Materials purchases you register respectively 7.25% and 8.5%.

  • Tax on sales

Create an Output tax (liability) account.

Create a Product A (incoming) account and insert the properties:

- Set the tax_description to the Product A account.
- Set the tax_rate to the Product A account.

  • Tax on purchases

Create an Input tax (asset) account.

Create a Materials A and a Materials B account (outgoing) and insert the properties:
- Set the tax_description to both Materials accounts.
- Set the tax_rate to both Materials accounts.

Record purchase and sales entries with the taxes included so the Bkper Tax Bot can calculate and record it on the respective asset or liability account.

Tax transactions working example

Notice the transactions recorded by the Bkper Tax Bot on the right.

Closing the Sales Tax period: Balance Tax in with Tax out to calculate the due (or receivable) amount.

The Tax Bot is installed via our Automations Portal

To record non included taxes you must set the tax_rate to a negative number.

About Connection and Configurations

A connection is on a user base where the user is authenticated and authorized the Bot to access this users' books.

A configuration is on a book base, the user that Authorized access can now install the Bot on his books. You can install a Bot on as many book as you want.

Take a look at this example:

I have three Apps and Bots connected to my user account as shown in the User Connections tab. Meaning that I as a user have authenticated and authorized access to my books.

But on this Book, I have only configured the Tax Bot as shown in Book Configurations tab

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