Step by step
- Open Accounting > Tax Setup.
- In Tax Country choose the Country. The page reloads and shows the Ready-made Tax Rates of that country.
- In Tax Number Label write the name of your tax number as it should appear on documents, for example BIN, TRN, GSTIN or VAT No. Leave it empty to use the usual name of the country.
- Press Save. The country decides which return the Tax Return report lays out; other countries get the general Tax Summary.
- Check the list in Ready-made Tax Rates and press Create Taxes, then confirm. The taxes are added as Duties & Taxes accounts, and a tax group such as SD + VAT is made with its parts.
- Your Taxes lists all your taxes with Name, Code, Rate and Type (Tax or Tax Group). Edit takes you to the Duties And Taxes page, where you change the tax.
- The Tax Return button at the top opens the report and Duties & Taxes opens the tax accounts.
Good to know
- Choosing a country only shows its rates; nothing is saved until you press Save or Create Taxes.
- Create Taxes skips a name that already exists, so it is safe to press it again. It also makes this country the tax country.
- Create Taxes is shown only to a user who may create accounts; the page itself needs the Duties And Taxes permission.
- The ready-made rates are the common ones; check them with your tax authority. Every tax can be edited later.
- Give every tax a Tax Code (VAT, SD, CGST...) so that the reports can show each kind apart.
- Choose Other / not listed when your country is not in the list; the Tax Return then shows the general Tax Summary.