Set product prices and tax
Set purchase and selling prices and choose how tax is handled for each product.
In this guide
- Enter purchase and selling prices
- Choose the tax method
- Apply settings to transactions
1. Enter purchase and selling prices
Use Purchase Price for the reference amount paid to a supplier and Selling Price for the reference amount charged to a customer. These values can be used as defaults when you record a transaction.
2. Choose the tax method
Choose the purchase and selling tax methods separately. Use Tax Separate when tax is recorded separately, or use the method that matches how your business manages tax-inclusive prices.
3. Apply settings to transactions
When you add the product to a transaction, its price and tax settings are used as defaults. Adjust them in the transaction when a different amount is needed.