Description
Manage the available tax codes to be used in objects: Sales Orders, Purchase Orders, Bills, and Invoices throughout SoftLedger.
Navigate to Settings>Tax Codes
Actions
Add new Tax Codes:
Edit and Delete existing Tax Codes:
Required Fields
Code - This will be the name of the Tax Code (e.g. VAT) referenced in objects once created.
Rate - The percentage Rate (e.g. 15%) to automatically calculate tax amount for the total amount of the object.
Tax Account - The account (e.g. Sales Tax) to automatically account the value calculated using the object total amount multiplied by the Rate.
Optional Fields
Description - Extra text field to further identify this specific Tax Code
Example
See an example Tax Code setup for "VAT" taxes below:
Once the above Tax Code has been created, you can select the code when creating an object within SoftLedger, such as a Sales Order:
Note: Tax Codes are meant to be convenience settings to pre-populate and calculate amounts where tax can be applied, but the tax account and rate can be adjusted on a line by line basis.