How are taxes in QuoteWerks handled? For instance, are they calculated line by line, based on the subtotal and how are rounded?
QuoteWerks performs tax calculations on a line by line basis. The tax is then rounded at the line level. QuoteWerks has modeled this behavior off of QuickBooks Accoutning by Intuit.
This is necessary when working with discount and charge line items. Thus, the taxes for these lines can be calculated properly.
*** For Canadian Users, the tax is calculated off of the Total Taxable amount on the document. The Total Taxable amount of items with PST is multiplied by the PST Rate. The Total Taxable amount of items with GST is mult by the PST Rate**
This applies to Local Tax, PST, and GST.