Taxes must be set up and then configured on particular funders or individual bill codes so they can be calculated on invoices.
Set up a Tax
- You can access configured Funders through Accounting>Accounting Settings>Taxes.
- Taxes can be searched by Name.
- Click New Tax
- In the resulting dialogue, choose a Name, a Percentage, and a Liability account.
Name: Give the tax a distinctive name.
Tax Number (optional): If you wish, enter your government-issued tax number here.
Percentage: Enter the rate of the tax. Tax rates can contain up to 3 decimals.
GL Liability: Enter the GL account to which you would like to attribute the tax.
- Click Save.
Edit a Tax
Click Edit to edit a Tax.
Editing taxes will not affect already-existing invoices.
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