How do I set up Tax Codes and define the way they are used?

Tax is evaluated at Order Line Level. This is achieved by having a Tax Group against each Customer/Supplier and another Tax Group against each Item/Descriptor. When creating an Order the Customer (or Supplier)/Item (or Descriptor) combination defines the Tax Rate to be applied.

- You should first define the Tax Groups via File>Financial Configuration>Tax Groups and nominate a default Tax Group for Suppliers and Customers.

- The next step is to define Tax Codes and their Rates. Therefore, go into File>Financial Configuration>Tax Codes and the Codes and their Rates. Nominate one of the Tax Codes as being the system Default.

- The final step is the link all these together. Go into File>Financial Configuration>Tax Matrix and for each Customer/Supplier and Item/Descriptor Tax Group combination enter the Tax Code that will apply.

Whenever you create a Customer, Supplier, Item, or Descriptor record you can identify the Tax Group to which the record belongs. If no Tax Group is entered then the system default Tax Code as defined above will apply

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How do I set up Tax Codes and define the way they are used?

How do I set up Tax Codes and define the way they are used?

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