How to I set up a default tax rate for transactions (Inclusive/Exclusive of GST)? [Video]

QuickBooks Online gives you the ability to set a default tax type for your transactions, you can choose between:

• Exclusive of GST
• Inclusive of GST
• Out of scope of GST

To change the default type:

1. Select the Gear Icon and select Accounts and Settings.
2. Select Advanced, then Accounting.
3. Select the drop down for Default tax rate selection and make your selection.
4. Select Save, and then Done.