Tips and Tricks

January 11th, 2013

New QST calculation mode

Starting January 1st, 2013, QST will no longer be calculated over the GST but directly on the selling price. The QST rate will change from 9.5% to 9.975% so the effective rate remains the same.

In the Finances/Settings/Taxes tab, the “Exclude GST from QST calculation” option was added. When you are ready to use the new QST calculation mode, just check the option and change the QST rate.