After updating your default product costs in Settings > Default Costs, you have to select the Apply Default Costs button on the top of the Cost of Goods Sold tab for each settlement already imported.
OPTION 1. Update Apply Default Costs for a Single Settlement Period
This will update your COGS invoice for the settlement based on the new default product costs.
If you have already sent the COGS invoice to QuickBooks or Xero, you have to delete the COGS invoice, select Apply Default Costs, and resend.
Going forward taxomate will automatically apply these new costs to any settlement imported after these changes were made.
OPTION 2. Bulk Apply Default Costs
To apply default costs to multiple settlement periods, select each settlement you would like to update.
Select the 3 dots on the toolbar and then Apply Default Costs to COGS.
If you have already sent the COGS invoice to QuickBooks or Xero, you have to delete the COGS invoice, select Apply Default Costs, and resend.
You can do this easily via Bulk Deletion and Bulk Send:
👉 Going forward, taxomate will automatically apply these new costs to any settlement imported after these changes were made.