Setting Up Tax Rates and VAT in AskBiz POS
How to configure VAT and tax rates across your products, generate your MTD VAT report, and sync tax data automatically to Xero or QuickBooks.
Key Takeaways
- Set tax rates at the product level in Inventory — AskBiz applies them automatically at checkout.
- The MTD VAT button at the top of any POS screen generates your month-to-date VAT report instantly.
- Connect Xero or QuickBooks via Integrations to auto-sync all tax data to your accounting software.
- Different product categories can have different tax rates — essential for mixed retail/food businesses.
Managing tax through your Integrations panel
AskBiz connects to leading accounting platforms to automate tax reporting. From Operations > Integrations you can connect Xero (which auto-syncs sales, refunds & tax) and QuickBooks Online (which syncs all transactions). Both integrations are listed as Available and take only a few minutes to set up. Once connected, every sale's tax element is posted to your accounting software in real time — eliminating manual VAT data entry entirely.
Using the MTD VAT report
The MTD VAT button appears in the top action bar on every POS screen — it stands for Month-to-Date VAT. Click it to see a breakdown of all VAT collected during the current month, itemised by product category and tax rate. You can export this report as a CSV for submission or review. If you're VAT-registered and file quarterly, use the custom date range on the main Overview to pull the exact reporting period you need before clicking MTD VAT.
Setting tax rates on individual products
In Operations > Inventory, edit any product and find the Tax rate field. Set the appropriate rate for that product — for example, 16% VAT for standard-rated goods, 0% for zero-rated food items, or a custom rate if your jurisdiction uses different bands. AskBiz applies this rate automatically at checkout so the cashier never needs to calculate tax manually. The receipt shows the tax-inclusive price and the VAT amount separately for customer transparency.
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Start for free →Tax rates for different business sectors
If your business spans multiple sectors — for example, a retail shop that also serves food — different products may carry different tax rates. AskBiz handles this by applying the tax rate set at product level rather than a blanket rate. A cold drink may be zero-rated while a hot prepared meal is standard-rated. Review your inventory regularly to ensure each product has the correct tax rate, especially when adding new product categories or after tax law changes.
Reconciling tax in your accounting software
Once Xero or QuickBooks is connected, open your accounting dashboard to verify that tax postings match your AskBiz sales data. Each sale appears as a separate line with the correct tax code attached. Refunds and voids appear as negative entries with the same tax code, so your net VAT position is always accurate. If you spot a discrepancy, check the Audit trail in AskBiz for the specific transaction — this gives you the exact tax amount applied per sale.
Preparing for a VAT audit or inspection
AskBiz's Audit trail provides a tamper-proof record of every transaction, payment, and stock adjustment — exactly what's needed in a VAT audit. To prepare, go to Operations > Reports > Audit trail and export the full transaction history for the period under review. The export includes transaction IDs, dates, amounts, tax rates applied, and payment methods. This evidence-grade record, combined with your Xero or QuickBooks postings, gives auditors a complete and consistent picture.