Tax
The tax management screen allows you to set the tax rates ting nhat can be selected when managing costs and revenue.
Here you can add, remove and update the rates that are available to be selected in the rates properties dialog box in the quotes and consignments module.
Changes made on this page are not committed until the [ SAVE CHANGES ] button is used.
Sage 50 Integration
The Accounting Code is used as the Tax Code when exporting the rates data for Sage 50. These codes are in the format T0, T1, ect.
The codes must be set up in Sage 50 in order for the data to successfully import into Sage.
Xero Integration
The Accounting Code is used as the tax type when syncing rates into xero.
You can only use the valid Xero account codes!
The most common Tax codes for Xero are:
Code | Description |
| NONE | No tax is applied |
OUTPUT2 | 20% VAT on sales |
INPUT2 | 20% VAT on inputs |
Setting Default Tax Rate
Once you have set up your tax rates you can set the default tax rate for cost and revenue entered.
This is done on the Finance screen in the settings module.
Related Articles
Rates Tab
The rates tab is how the finance for the Consignment is managed. Summary The summary tab gives you an overview of the Consignment’s finances. Credit Limit This panel show the credit information from the finance account that the consignment is linked ...Rates Tab
The rates tab is how the finance for the quote is managed. Summary The summary tab gives you an overview of the quote’s finances. Credit Limit This panel show the credit information from the finance account that the consignment is linked to through ...Managing Rates
You manage the rate codes for costs and revenue through this screen. Each rate consists of the following elements: Label Cost Account Code Revenue Account Code Category Rates require one or both cost and revenue codes. If a rate has a cost code, it ...Rates Manager
The rates management screen in the finance module provides you with a single screen rates. Rates accessible here are limited to transaction which: are linked to a consignment not linked to an invoice The rates manager is limited to 1,000 rate lines ...Making changes to rates attached to an invoice
It is possible to make changes to costs and revenue once they have been attached to a sales or purchase invoice. The invoice must be in the DRAFT state. As long as the invoice that a rate is attached to is in the DRAFT state, it can be edited through ...