How to create tax in accounting app?
To create tax in Metro ERP's Accounting App, follow these steps:
1) Go to the 'Accounting' module.
2) Under the 'Configuration' menu, select 'Taxes.
3) Click the 'Create' button to add a new tax.
4) Provide the necessary information for the new tax:
- Tax Name: Give the tax a meaningful name.
- Tax Scope: Choose whether the tax is for 'Sales' or 'Purchases.’
- Tax Computation: Select the tax computation method (e.g., On the price, Formula, or Combination).
- Tax Applicability: Choose whether the tax applies to 'Product,' 'Product Category,' or 'Customer Taxes.'
5) Configure Tax Rates:
- Under the 'Tax Rates' tab, click 'Add a line' to add a tax rate.
- Enter the applicable tax rate and select the tax account associated with it.
6) Tax Rules (Optional):
- Under the 'Tax Rules' tab, you can define rules for this tax.
- These rules specify when and how the tax should be applied based on certain conditions.
7) Save the Tax:
- Once you've entered all the necessary information, click the 'Save' button to create the new tax.
To get more details to create tax, please do contact us at email@example.com