How to create Tax Codes
The Accounts Module requires that you setup the necessary tax codes for the taxes which may apply for the work that you perform i.e GST or VAT.
Migration Manager will by default be setup with the basic Tax Codes for Australia. If you are just setting up your Accounts you just need to review the Tax Codes to confirm that all of your necessary codes that you require are there.
To create a new Tax Codeyou can either use the Accounts Setup Tool or launch from the main menu.
If you haven't yet completed the Accounts Setup tool, you can create/check your Tax Codes from the Accounts Setup tool. To access this click the Accounts button in the main toolbar and then select 'Accounts Setup'. For instructions on how to use the Accounts Setup tool please see: How to use the Accounts Setup Guide.
When the Accounts Setup tool opens, click 'Check Tax Codes'.
The New Tax Code window will now appear. Enter all of the Tax Code information.
Note the following:
- The GL Tax Code is the GL Code used in your accounts system (such as Xero).
- You need to tick whether this Tax Code is to be used for Expenses or Income.
To finish setting up the Tax Code, click Save & Close.
The new Tax Code will now appear in the Tax Codes list.