Taxes

Your business’ financials are affected by regulatory taxes and each organization has different country specific taxes to adhere to. You may have added Taxes in the Quick Setup section. You can edit or add further Taxes through the Settings section.

Adding New Taxes

To create or add a new Tax, follow steps as below:

Click on the Settings icon found on the top right hand side corner of the screen and click on Taxes.
To add a new tax, click on + New Tax.
Provide a Tax Name.
Enter the relevant Rate in %.
Define if the tax has to be charged at compound rate.
Click Save.

New tax

Editing Taxes

To edit an existing Tax follow steps as below:

Click on the Settings icon found on the top right hand side corner of the screen and click on More Settings. Click on Taxes.
In the Edit Tax screen, edit the desired fields such as Tax Name, Rate, Compound Interest.
Click Save for the changes to take effect.

Edit tax

If this tax has already been applied in some transactions, you will asked to confirm if you wish to update the new tax rate in those transactions as well.

Update Tax Rate

Deleting Taxes

To delete an existing tax follow steps as below:

Click on the Settings icon found on the top right hand side corner of the screen and click on More Settings. Click on Taxes.
Scroll over the desired tax row and click on the trash bin icon which appears. Confirmation pop-up screen will double check your intention. Click to OK to Delete or Cancel to skip.

Delete tax

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