Set Up Tax Details

At the top of the Tax & Term page, you will see two tabs., one for Tax and the other for Terms.

Create tax rates applicable to your business and different terms of payment to be offered and used for different types of customers and services/inventory. You’ll be able to prepare your documents and generate different reports without these taxes and terms but they will be incomplete. Avoid the hassle by setting them up early on. You can always come back anytime to update and add more information.

Taxes

At the tax tab, you will see a list of tax rates that have already been created and saved. This will allow you to save the tax rates for each of the areas you are servicing for easy and convenient use on estimates and invoices. 

To access the tax set up page, go to Settings > Company Settings > Tax & Terms > Tax tab.

Using the Tax Table

  • The Tax table has only 3 columns:
    • Name – tax name
    • Tax – tax rate (in percentage)
    • Action button – used to add, edit, and delete tax items
  • Sort the tax list
    • Click on the column header to sort the tax list according to tax name or rate.
  • Items Per Page 
    • Select the number of tax items to be displayed per page. Options to choose from are 10, 25, 50, 100
    • Use the side arrows to move from one page to another (if there is more than one page). If there is only 1 page, this feature is disabled.

Create a Tax Item

  1. At the Tax tab, click the Actions button at the upper right-hand corner of the Tax table.
  2. Select + Add New.

  3. From the Add New Tax window, fill in the fields.

    • Name – create a name or use the actual tax name such as income tax, payroll tax, sales tax, etc.
    • Tax – this is the applicable tax rate (percentage)
  4. Save the new tax item. The new tax item will be added to the tax list.

 

Edit a Tax Item

  1. Find the tax from the list and click the 3-dot menu to the right of the item to be edited.
  2. Select Edit.

     

  3. Update the name or tax rate from the Edit Tax window.
  4. Save the changes.

Delete a Tax Item

  1. Find the tax from the list and click the 3-dot menu to the right of the item to be deleted.
    • To delete multiple tax items tick the checkboxes beside the tax names to be deleted and click the Actions button.
  2. Select Delete.

     

  3. Confirm the delete action. The tax item will be removed from the Tax List.