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 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. In MYOB BusinessBasics, there are two tax types: 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. |
Code column |
Enter a tax code you wish to include in the consolidated tax code, or click the search icon to display a search list of tax codes to choose from. |
Description column |
This column displays the description for each of the tax codes you entered in the Code column. |
Rate column |
This column displays the tax rate assigned to each of the tax codes you entered in the Code column. |
Total |
This field displays the total tax percentage that will be applied to line items that are assigned this tax code. |
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. |