Automated Tax Computation

1

Dear guys,

I am planning to tax preparation inside Coda. Here is the workflow I am thinking

  1. Bring / sync the data from accounting software to Coda through integration (QuickBooks Online) is it possible?
  2. Build tax rule and validation
  3. Prepare company letters based on the computed value from the table (live dynamic data)

HOWEVER, I am not sure how to build my table or structure my data yet. Do you have any tips?

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2

Hi Hendrik,

As far as I can remember, zapier has an integration between QuickBooks and Coda. It would mean though that your QuickBooks chat of account has been structured in a ‘tax aware’ way.

Which country are you in? Sales tax, or income tax? I assume income tax, because QuickBooks already takes care of sales and vat taxes. Personal or business?

This would be a truly ambitious project.

3

Hi @Piet_Strydom ,

Thanks for your reply. We are based in Singapore. We are doing mainly business tax.

You can check below template:
Tax Calculation Template

QBO has the ability to tag individual transactions by using custom fields. Or perhaps modifying the chart of account will be more efficient way?

4

Hi Hendrik,

I do think that this is doable, but be warned that Coda (aa all no-code tools) is VERY different to spreadsheets - only column formulas!

I would recommend that you spend 200 or so hours familiarising yourself with Coda, how to structure your tables, and what the formulas can do. Try a few approaches to build a solution - It is not something that you are going to get right on the first try, unfortunately.

Good luck
Piet

5

Hi Piet,

My first step is to sync coda with google sheets. Google Sheets has tools to sync/import QuickBooks Online transactions and reports. After it is imported, I’ll combine it with Coda column formula to categorize it to tax aware transaction types, proper chart of accounts, etc.

I’ll keep you updated.

1 Like
6

The Google sheet link is news to me. Thanks, that could prove useful for me.