If you reclaim back your expenditure taxes you may want to set up tax codes. We allow for as many tax rates or tax codes to be created as required. If you don’t reclaim your tax, you may want to set one code of zero, with a 0% rate and set it as the default.
If you are in Europe and have VAT or Australia/Canada with GST then you will probably re-create the same tax rates as in your accounts system.
With our Xero sync & Sage 50 sync (UK), tax codes can be imported automatically.
You can easily add a tax code. Just populate the three main fields and click create. You can edit a tax code by double-clicking into any of the fields.