Tax codes define different types of tax, that can be applied to the expense codes defined in your system.
When you add a tax code, you will be required to enter its tax formula. This formula, which is based on the net amount of the expense, determines how OfficeTimer calculates the tax. System administrator can setup organization departments using [Admin Options] –> [Tax Codes]
Setting up Tax Codes:
Renaming “Default tax code”:
- Click on[Edit]link on default tax code record.
- Enter new tax code name of default tax code.
- Click on[Update]to update this change.
Adding new tax code:
To add new tax code, follow these instructions.
- Enter new tax code code and name in“Tax Code Information”form.
- Click on[Add]to add this tax code.
- In[Tax Code List], click on[Delete]link of record which you want to delete.
- Click on[Yes]on delete confirmation dialog
Editing Tax Code:
- In[Tax Code List],click on[Edit]link of record which you want to modify.
- Update your required modification in[Tax Code Information]form.
- Click on[Update]button to update this record.