Tax Bot

Taxes are calculated based on the transaction amount and some properties set in the account or group, specifying the rates to apply.

Once the taxes calculated, the Tax Bot will record one or more transactions with the entry for the taxes.

Tax on sale example

Tax on purchase example

The examples use simplified cash basis for easy understanding. You can also set more complex tax flows involving accounts payable and receivable instead of the direct Bank Account.

Learn more about sales taxes and bots on Bkper:

Bkper Bots Installation

Sales taxes on Bkper

Tax Bot help

The Tax Bot is triggered on the TRANSACTION_POSTED event. Once triggered it will check group and account properties if it has the tax_included or tax_excluded properties. When it finds these properties it will read the corresponding values from your book and apply the Tax Bot's logic. In this case it will calculate the tax and record another transaction with the available data.

Learn more....

Accounts and/or Group properties

Set the following account properties on accounts (or group) that should trigger the Tax Bot.

• tax_excluded: The tax rate to apply, calculating the tax based on the transaction amount.
• tax_included: The tax rate to apply, extracting the tax already included in the transaction amount.
• tax_description: The description of the generated transaction

Generating addional 7% of income tax:

tax_excluded: 7
tax_description: #incometax

Extracting 12.85% of VAT, already included in the transaction:

tax_included: 12.85
tax_description: #vatin

Expressions

Expressions are like variables that allow you to dynamically use values from the posting event that triggered the Tax Bot, consisting of the account name and the transaction description. This allows you to complete accounts on the newly recorded transaction by the bot and to have a significant description that links to the original transaction.

You can add these two expressions to the tax_description property of the account that has to trigger the tax bot to dynamically generate the new transaction.

• ${account.name}
• ${transaction.description}

Example of the account property using these expressions:

tax_description: ${account.name} Input Tax #vatin ${transaction.description}

Where:

• ${account.name} Is the account name of the account that triggered the Tax Bot.
• Input Tax Is the "constant" account name to complete the newly recorded tax transactions.
• #vatin Is a sample of hashtag use.
• ${transaction.description} Is the same description that comes from the posted transaction that triggered the tax bot.

Transaction properties

• tax_round: The number of decimal digits to round the generated taxes. This should be lower than the books decimal digit.
• tax_amount: The fixed tax amount to override the included taxes calculated based on Group or Account tax_included definition

Example:

tax_round: 1

See the Tax Bot help article for a working example. See the Sales Taxes articleto learn more about included and not included taxes.