Setting Up Taxes
Taxes are compulsory contributions to the state/country revenue.
Last updated
Taxes are compulsory contributions to the state/country revenue.
Last updated
One of the primary motivators for compulsory use of accounting tools is the calculation of taxes. Howinibs allows you to make configurable tax templates that you can apply to your sales or purchase transactions.
For Tax Accounts that you want to use in the tax templates, go to: > Home > Accounting > Chart of Accounts
Select an account and click on edit. Select the 'Account Type' as 'Tax' for the account.
Sales Taxes and Charges Template fetched taxes for your sales transactions like Sales Order and . Read to know more.
Purchase Taxes and Charges Template fetched taxes for your sales transactions like and . Read to know more.
The tax set in Item Tax Template applies specifically to an or an . It is given preference over the Sales/Purchase Tax Template. Read to know more.
Tax category helps in automatically applying sales/purchase tax templates in your transactions based on the customer/supplier chosen. Read to know more.
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