Set Up Tax Rules

For each country and its states, provinces or regions, the Tax details can be defined with the appropriate tax rates and rules.

This article details how to create a Tax Rule.

1. From the Icon Bar click Setup .
2. From the Navigation Menu click Financial to expand the corresponding menu.
3. From the menu click System.
4. Upon the Financial Settings page displaying navigate to the Taxes tab.
5. Click the Tax Details sub-tab to view the list of available taxes
6. Click the New.
7. Note that the right pane will display the required fields to create the new tax by entering/selecting the following information:
   1. Enter a Name for the tax.
   2. If there is an ID, enter it in the Id box.
   3. Select the type of tax from the Type list. The options are: Purchases and Sales.
   4. Click the browse button located against the Account box, to select an Account from the Account List dialog box.
   5. Enter the Rate %
   6. The Total box will automatically be filled depending on the Tax Group containing this Tax Detail when used in an Expense Entry.
   7. Enter the Minimum taxable amount
   8. Enter the Maximum taxable amount
   9. Click the browse button located against the Corresponding tax box, to select a Corresponding tax from the Tax Detail dialog box.
   10. Select if the tax rule Is taxable and if the tax rule should be Included in report, by selecting the corresponding boxes.

       

8. Click Save to apply your changes.
9. Upon saving, the newly created Tax rule will be listed on the left pane.