How Magento POS Support Tax Calculation?

When creating online stores on Magento platforms, retailers are provided with an array of options to define taxes. In general, the tax of products in Magento is calculated based on the product tax class, customer class, and “the address for calculating tax”. 

Although Magento is a robust platform, there are potential problems that retailers may encounter when calculating tax. A recommended solution to enhance tax calculation is adopting a POS system. Hence, how does POS support Magento tax calculation?

Easy to manage both online and offline orders

Optimizing the order management workflow is a common challenge in every eCommerce store. Reviewing order details, editing items added to an order, changing shipping/billing details, and changing customers’ personal information are just a few of the things you may need to do while working with order data.

Online orders

The Order Management extension for Magento 2 expands the platform’s default features, which enables seamless order management from smart order preview to final order approval. Store owners will be offered some extra helpful features such as

  • Add or remove goods from an order
  • Change shipping and billing information
  • Preview the latest Order Grand Total
  • Recalculate taxes

Every change at the register was saved.

The Order Management extension allows you to quickly access the Grand Total of an order you’ve modified. As a result, you’ll be able to see the final total before the changes take effect, and you’ll be able to make any necessary adjustments. Besides, any customizations in terms of tax rates are saved in the POS system

Compatible with tax features of the e-commerce platform

You must ensure that you pay the correct sales tax for all of your purchases as an eCommerce business owner. Online companies of all sizes may use POS systems to alleviate this burden since it allows you to measure sales taxes and keep up to date with any adjustments to standards or exemptions made by platforms. 

Reduce fraud

POS systems enable retailers to discard possible fraud by linking transactions to staff’s name and creating a transparency management system. Besides, the risk from cyber attacks are also discarded. There are many powerful POS systems built in with advanced security features that support Magento retailers to encrypt all transactions and disguise key customer data. In the same ways, retailers can also authorise payments.

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In addition, with POS retail store owners are able to assign access to particular staff. In order words, each staff can only access to necessary data, which ensures that there is no possibility of lacking valuable information

Reduce fraud

Choose whether or not to add tax options in the invoice

For each product, there is a certain field to set up the tax class. This field will influence tax rules in the process of calculating tax for products in order. The tax can be set differently based on customer groups following default Magento. Magento POS tax calculation follows this rule from the Magento backend. Some helpful POS like ConnectPOS can automatically pull the product tax class and customer tax class data from Magento in real-time. Hence, retailers only have to configure the “Address for calculating tax”

Final thought,

Taxes are always a challenge that every merchant faces. Since it takes time and effort to ensure the process is accurate. There should be no mistake in calculating, collecting and paying them. And the more orders created, the more complicated tax calculation becomes. Therefore, retailers are highly recommended to integrate a POS in their systems to simplify tax calculation.

If you are looking for a powerful POS with these following advantages and more others, ConnectPOS may be what you need.

About the Author

Lani B.

Lani B.

Lani B. is a content marketing intern at ConnectPOS. Taking interests in the e-commerce retail business, she has been updating with new technology solutions that empower retailers to thrive in this competitive market.

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