Taxes
Overview
The Taxes page allows you to create and manage tax classifications for items in your accounting system. This feature is used to determine whether an item for sale or purchase is subject to taxes as part of a transaction. Accountants, bookkeepers, and finance staff use this page to configure tax settings.
Taxes are applied to items on an item-by-item basis. This page is specifically for value-added and sales taxes; for information on payroll taxes, refer to the payroll support article.
Navigation Path
To access the Taxes page, navigate to the accounting dashboard and click on the Taxes section. From there, you can create a new tax by clicking the Create Tax button.
Field Descriptions
The following fields are available on the Taxes page:
| Field Name | Purpose | Expected Values | Defaults |
|---|---|---|---|
| Name | Label for the tax type | Text string (max 64 characters) | Required |
| Tax Type | Classification for tax application (used in VAT report) | Standard, Zero-Rated, Exempt | Standard (default) |
| Rate (%) | Percentage tax applied to items | Numeric value (e.g., 8.25) | Required |
Actions & Buttons
- Create Tax: Click this button to create a new tax classification.
- Save: Saves the tax details.
- Cancel: Discards changes and returns to the Taxes list.
Examples / Usage Notes
For example, you might create a tax named "Sales Tax" with a rate of 8.25% and a tax type of "Standard". This tax can then be applied to specific items in your accounting system.
When creating a new tax, note that the rate is immutable; if you need to change the tax rate, you must create a new tax classification.
Related Pages or Links
For more information on applying taxes to items, refer to the Invoices article. For details on payroll taxes, see the Payroll Support article.