Setting up taxes is a multistep process. If any of your goods/services are taxable, to setup your taxes you will need to configure:
Tax sets allow you to combine several tax rates together. For Example: If you will have local, state, and county taxes, you can create a set to include each of these tax rates together so you can view the breakdown of the taxes by collecting agency. There are two ways of setting up taxes Simple and Custom.
|NOTE: Even if you are NOT combining several rates together, sets MUST be created to make the taxes available for selection when creating goods & services.|
- Create individual Tax Rates. Click Here for information on setting up individual tax rates.
- On the Tax Sets tab, click Add.
- Enter a name for the new tax set.
- Select the Tax Region from the drop down box.
- Click the to select the tax rate to be included in the set. Begin typing the name of a tax rate created previously on the Tax Rate tab.
- Repeat step 5 to add additional tax rates to the set. NOTE: If you are simply creating a tax set for an individual tax rate, you need only select the one associated tax rate.
- Click Done.