On successful completion of this lesson, students will understand how to create new tax codes and how to find existing tax codes.
Adding New Tax Codes
- To create a new Tax Code, click on ‘Tax Codes, ‘New’.
- The ‘New Tax Code’ box will open
- In the General Tab enter the following
- Tax band – e.g. GST or VAT
- Tax Rate- g. 10%
- Account – If you export to Quickbooks or MYOB, enter the account code for your sales tax.
- Tax Agency – e.g. Inland Revenue
- Customer Exemption Allowed – check this box if you may have customers who are exempt from paying tax.
- Child Tax Bands – If the tax band represents a Tax Group, use Child Tax Bands list to enter any component taxes that comprise the Tax Group.
- In the Stores Tab select the stores that use this tax code (if you have multiple stores).
Finding Existing Tax Codes
- To find an existing Tax Code, click on ‘Tax Codes, ‘Find’.
- Click ‘Search’ in the box that opens and EVE will display a list of all the Tax Codes you use.
- Double-click any Tax Code and more information will be displayed.