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 three 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 existing invoices.