Tax Code Editor

The Tax Code Editor allows you to view, create and manage the Tax Codes available in your system. Tax Codes determine the VAT/Tax rate applied to Accounts Transactions, and can be selected on a specific Accounts Transaction, or set as a default for a Company *

Create a new Tax Code

1. Go to Admin Options > Tax Code Editor
2. Click Create Tax Code
3. Enter the Tax Code - a short code to identify the rate (e.g. T1). If you're not sure what this should be, check with your finance team. 
4. Enter a Description if needed, shown alongside the code
5. Enter the Tax Rate (%) if applicable
6. Select the Depot the Tax Code applies to, if relevant
7. Click Save (or Cancel to discard the new row)

Examples:

*To set a default Tax Code for a Company:

1. Open the Company record
2. Open the Account Info tab
3. In the Tax Code field, select the required Tax Code
4. Click Save