Accounting - Odoo 15 Enterprise Book

Fiscal Positions

The fiscal positions in Odoo is a very beneficial tool when it comes to accounting. They assist in positioning the tax by overlooking the tax policy of the country. The one time tax setting it provides can be used every time. Taxes can be set on bothroducts and product categories, and this will automatically be added during sales orders. While making a sales order if you didn't select any fiscal policy, but the products are assigned tax, then the same tax will be applied to the invoice for every customer. Also if you didn't want to apply tax to certain customers, then it can be executed and managed with the fiscal policy. In the same way existing tax can be configured in Odoo. Fiscal positions can be set to individual customers and these will be applied at the time of invoicing.

To configure the fiscal positions in Odoo 15 select the Fiscal Positions option from the Configuration tab. The list of existing fiscal positions configured will be displayed.

By selecting the fiscal position you can view the details of it. Here you can see that the tax on product and tax to be applied is defined. Also it clearly mentions on which account the cost must be shown.

You can create new fiscal positions by selecting the CREATE button. Enter the name of the Fiscal Position along with details such as whether to Use Taxcloud API, foreign Tax ID, the tax ID of your company in the region mapped by the fiscal position and name of the Country. The fiscal position will only be applied if the delivery country matches. Under the Tax Mapping menu add the details of the Tax on Product and the Tax to Apply. You can add multiple products to the menu. Any legal notes regarding the fiscal position that must be printed on the invoice can be added to the dialogue box provided. After adding all the details select the SAVE button to add the new fiscal position to the system.