A tax is a fee charged or other levy imposed upon a product, income, or activity by a government. vAccount allows you to set Tax Rules. You can add your Tax Calculation Rules for Income/Expense Transactions. To manage Tax, please go to vAccount => Tax (or go to Dashboard and click on Tax icon). On the page, you will see list of Tax which you created and you will be able to add/edit/delete/publish/unpublished Tax using the buttons on toolbar.
- To create a Tax Calculation Rule, you can simply click on New button in the toolbar and fill-in necessary information.
The table below list the important fields and it's meaning which you need to enter when you setup tax.
|Tax Name||Name of your Tax Calculation Rule|
|Tax Value (in %)||Set Tax value in Percentage (%).|
|Transaction Type||You can set up this Tax Calculation Rule either for all Categories or a Particular category. If you want to apply this Tax Calculation Rule to a particular category then select your desire category from the dropdown list but if you want to apply this Tax Calculation Rule on All Category then select “Select Transaction Type”.|
|Items||Select items on which you want to apply this Tax Calculation Rule. You can select multiple items from the list. If you want to apply this Tax Calculation Rule to all Items then leave it Blank.|
|Country||Select country on which you want to apply this Tax Calculation Rule. If you want to apply this Tax Calculation Rule to all Countries then select “Select Country”.|
|Status||Set this Tax Calculation Rule status to Published/Unpublished.|
|Description||Set your Description about this Tax Calculation Rule.|