Check this quick video to learn about setting up your tax.
How to set up Sales Tax
To set up Sales Tax, follow the steps below:
- Select Taxes on the left menu, then select Set up tax.
- Enter Tax name, Description, Tax agency name.
- Enter your Business ID no. (optional).
- Select your Start of current tax period.
- Select your tax Filing frequency for GST.
- Select your Reporting Method (usually it'll be Accrual, unless you are a professional service provider. If in doubt, please consult your accountant).
- Enter Sales rate, then select This tax is applicable on purchases, if applicable.
- Select Next, then select OK.
Once you have initialised the Tax Centre, you can now add custom tax rates, custom tax agencies (other than VAT and Service Tax) and group tax through the Add tax button. For more information on how to do this, refer to the following links: