Purpose

To assign GL accounts to each tax used by your business.

Procedure

Define all tax rates you will require. Depending on the location of your business you may need to set up federal, state/provincial, municipal/county, environmental, or other taxes. It is recommended that a separate sale and purchase GL account is assigned to each tax you require. Once this is complete, you should setup your Tax Groups and Item Tax Types

Screenshot

web accounting, tax setup

Tips and Tricks