Tax - Ability to calculate and report tax for multiple jurisdictions
GST - where an entity trades in different tax jurisdictions, allow the file to create the ability to manage GST for different countries (different GST codes) in separate GST accounts and not all consolidated into one GST account.
eg if an entity trades in Australia and New Zealand, you can have an Australian GST account and a NZ GST account to make reconciliation and completion of BAS easier.
Bradley Smith
shared this idea
-
Matthew Dipple
commented
Yes, I am in a location where we need to add tax for multiple jurisdictions (federal and provincial), and it all goes into the same tax account, which is very unhelpful! Our accountant when reviewing our books had trouble understanding why our tax filings weren't matching up with the tax account--it looked like we had severely under-paid our federal tax, until it became clear that Xero was adding our provincial tax to this account as well. This seems like a pretty basic functionality that could be improved.
-
Freya Pieroz
commented
As it stands, in order to do this correctly, the same entity has to have two Xero instances, one for each country, which is dumb.