Each product has its own tax and account (nominal) codes assigned.
Product tax settings
The tax settings on products is dependent on the tax mode of the Brightpearl account:
- Product tax settings in VAT mode
- For VAT, products generally rule the tax rate which is used so each item is allocated a specific tax code which will be applied to sales and purchases. This would then only be overridden if the customer or vendor (supplier) record has been assigned a tax code.
- Product tax settings in Sales Tax mode
- In Sales Tax mode, tax is generally based on locations and so each product is set only as taxable or not taxable. When a product is set as taxable, the company default tax code is applied to sales and purchases, which can be found at Settings > Company > Accounting: Tax . This would then be overridden if the customer or vendor (supplier) record has been assigned a tax code.
Product account (nominal) codes
Each product is assigned a sales, purchases (cost of sales) and stock account (nominal) code. These account codes are used for posting accounting when the products are purchased and sold.
The default codes assigned to products are defined at Settings > Company > Accounting: Nominal codes . Changing the default codes will only affect future products which are created.
The codes can be edited directly on products one-by-one or in bulk using the product import.