Set up Tax Codes
Overview :
Tax codes are used to calculate tax on the sales order and invoice and the screen below table has to contain the various tax code and their tax rate.
You can modify the rate depending on the country and the type of tax for example some products like food are zero tax so this could be T2 but normal products could be T1. T3 could be used to indicate here is no tax but it is sold to another country for example. If you need more information about the tax rates talk to your accountant.
The system has 12 tax codes T1 to T12 already entered so it is unlikely you will need to add more but you should update the Tax rate in accordance with the country and add additional information such as what type of sale the tax code will be used for,
Process
1. Menu Screen : MASTER INFORMATION – SYS TAX CODE
Tax codes are used to calculate tax on the sales order and invoice and the screen below table has to contain the various tax code and their tax rate.
You can modify the rate depending on the country and the type of tax for example some products like food are zero tax so this could be T2 but normal products could be T1. T3 could be used to indicate here is no tax but it is sold to another country for example. If you need more information about the tax rates talk to your accountant.
The system has 12 tax codes T1 to T12 already entered so it is unlikely you will need to add more but you should update the Tax rate in accordance with the country and add additional information such as what type of sale the tax code will be used for,
Process
1. Menu Screen : MASTER INFORMATION – SYS TAX CODE
2. You will see a list of tax codes to add or modify press"Update" to save changes.
