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Setup Taxes

Prerequisite     Setup Products,  Setup Ledgers for Products Setup Taxes for Products

After Setting up a Customer and Ledger for "Mahesh Kumar", the next step is to create Taxes for the products.
Click on "Products-Taxes" in the menu bar and the following screen appears. 

  •   Click on "Create New TaxCategory".   The following screen will appear.
  •   Type the Tax Name
    • Ex: Let create a tax "VAT" and the percentage is 4%, type the Tax name as "VAT" and update 4 in the  percentage field. 
  •   Select the "Account Class", "Class Type" & "Account Name" from the drop down list and click on "Create".
    • (For the tax-VAT the field "Depends on" is optional )

 When we click on "Create" the following screen appears and highlighting "TaxCategory was updated Successfully"