Setting up Taxes in ActiveBooks

We will discuss about basic taxation settings in this page.

1.Create 'Tax Account' in Chart of Accounts Home > Accounting > Chart of Accounts - Select an account - Click edit - Select account type as 'Tax'

2. Create Sales Taxes and Charges Template Sales Taxes and Charges template will help you to automatically fetch sales taxes while creating sales related transactions. Ex: sales order, sales invoice.

3. Create Purchase Taxes and Charges Template Purchase taxes and charges template will help you to automatically fetch purchase taxes while creating purchase transactions. Ex: Purchase order and Purchase Invoice

4. Create Item Tax Template You may create Item Tax Template for specific item or item group. It is given preference over the Sales/Purchase Tax Template.

5. Create Tax Category Tax category helps to automatically choose purchase/sales tax templates based on choice of address, supplier or customer.

Thank You...!!!