Code column

This column displays the codes associated with all of the tax codes you've created using the Tax Code Information window. Click the zoom arrow next to the code to open the Tax Code Information window that corresponds to the tax code Type. These tax codes appear in the Sales and Purchases windows.

Description column

This column displays a description for each of the tax codes you've created.

Type column

Select the tax type that applies to the tax code you're creating. In MYOB AccountEdge, there are three tax types:

• Import Duty - This tax type should be used by importers bringing goods into the United States from other countries. Tax codes with this tax type are used to record the import duty payable on a purchase order without changing the total amount of the purchase order. (The import duty is treated as a separate transaction since the duty is payable to the federal government, not to the company supplying the goods.)

• Sales Tax - This tax type covers most of the taxes you'll collect or pay. This tax type should be used for state, county and city taxes on retail sales.

• Consolidated - This tax type is used for tax codes that are made up of two or more other tax codes. For example, if you're required to charge both a state sales tax and a local (city or county) sales tax on the sales you make, you can use a consolidated tax code that combines tax codes for both these tax rates.

Rate column

This column shows the tax rate for each tax code you've created. This is the percentage of tax that will be charged on any line items the tax codes are assigned to throughout MYOB AccountEdge.

Print button

Click this button to print the Tax Code List report.

New button

Click this button to create a new tax code using the Tax Code Information window.

Edit button

To make changes to an existing tax code, highlight it and then click this button. The Tax Code Information window will open and you'll be able to make your changes.

Close button

Click this button to leave this window.