A default set of tax codes are automatically created once you turn on sales tax, krystajfox.
To use the tax feature, you'll have to first turn it on. You can follow the steps below to turn on the tax tracking.
- Select Tax on the left menu and select Set up tax.
- Set up the tax agency details such as the name of your tax agency, any official tax number that has been assigned to your company, your reporting method, how often you file your tax to your tax agency, and whether this tax is meant for sales or purchases, then select Next.
- Follow the steps to finish the setup and click Done.
You can also create tax rates if necessary. Here's how:
- In the Tax Centre, select Add Tax.
- Choose which type of tax rate you want to set up.
- Enter the details of your tax rate. If you need help with this screen, select the help button (yellow question mark).
- Click Done when finished.
In case you want to change a tax rate, you can create a new tax rate instead of updating an existing one because the existing rate may have been used on prior transactions, and changing the rate could affect your sales tax tracking.
You can read this article in case you want to file and pay taxes: File And Pay Tax/GST.
Please touch base with us if you need anything else. We're always here to help.
