Taxes
Your business’ financials are affected by regulatory taxes and each organization has different country specific taxes to adhere to. You may have added Taxes in the Quick Setup section. You can edit or add further Taxes through the Settings section.
Adding New Taxes
To create or add a new Tax, follow steps as below:
- Click on the Gear icon > Taxes.
- To add a new tax, click on + New Tax.
- Provide a Tax Name.
- Enter the relevant Rate in %..
- Click Save.
Adding a New Tax Group
It is customary in some countries to club some taxes under a common head. In such cases you will have to create Tax Group which will fulfill this regulatory requirement. To create a Tax Group follow steps as below:
- Click on the Gear icon > Taxes.
- Click on the + New Tax Group option present on the top right corner.
- Provide a Tax Group Name.
- Select the taxes to be clubbed together by clicking on the check box, next to the desired taxes.
- Click Save to add new tax group.
Editing Taxes
To edit an existing Tax follow steps as below:
- Click on the Gear icon > Taxes.
- In the Tax screen, hover over the tax you wish to edit and click on the Edit button that appears.
- Edit the tax details and click on Save for the changes to take effect.
Deleting Taxes
To delete an existing tax follow steps as below:
- Click on the Gear icon > Taxes.
- In the Tax screen, hover over the tax you wish to delete and click on the Trash icon that appears.
- Confirmation pop-up screen will double check your intention. Click on OK to delete the tax.
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