taxes

How do I create a bill for goods with excise tax?

Firstly, you would need to create a new excise tax. Here’s how:

  • Click the Gear icon on the top right corner of the page.
  • Select Taxes.
  • Click the Tax Rates sub-module.
  • Click the + New Tax button on the top right corner of the page.
  • Enter the Tax Name as Excise Tax.
  • Enter the Rate (%) as 50 or 100.
  • Check the box This is an Excise tax.
  • Click Save.

Excise Tax

Now, create an excise item:

  • Go to Items on the left sidebar.
  • Select Items.
  • Click + New on the top right corner of the page.
  • Enter the Name, Sales Information and Purchase¬†Information of the excise item.
  • Select It is an excise product.
  • If you want to maintain an inventory for the item, check the box Track Inventory for this item.
  • Click Save.

Excise Tax

After this, you need to create a bill for them:

  • Go to Purchases on the left sidebar.
  • Select Bills.
  • Click the + New button on the top right corner of the page.
  • Select the Vendor Name, Bill Date and the Item details.
  • Under the Tax column, select the the newly created Excise Tax.
  • Click Save as Open.

Excise Tax

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