Tax Code

Use up to three characters to enter a code for the tax record you're creating.

Each time you enter a transaction in the Sales or Purchases window, you'll be able use this tax code to assign this tax to the transaction you're creating.

Description

Enter a description for the tax code you've entered. We recommend that your description be short and easy to remember.

Tax Type

Select the tax type that applies to the tax code you're creating.

Rate

Enter the percentage of tax that is associated with the tax code you're creating.

Linked Account for Tax Collected

Enter or select the account you want to use to track the tax calculated for this tax code on invoices recorded in the Sales window. This account typically is a liability account. Click the zoom arrow next to the field name to open the Edit Accounts window and make changes to the account.

Linked Card for Tax Authority

If you've set up a vendor card for the tax authority for whom this tax is collected, enter or select that card here.

New button

Click this button to open a new Tax Code Information window and create a new tax code.

OK button

Click this button to accept the entries you've made in this window.