In this page you can setup your tax code and tax settings for your company.
To access Tax Settings, click on the Account Book Setting > Tax Settings. You will need to enable your tax system to see this function. Tax system can be enabled at Account Book Setting > Settings > Under General > Tax > Tax System.
First time Setup
If the company had not setup any tax code or tax settings before, a wizard will prompt to guide you throughout the setup process. In this case, we will be using Malaysia SST Tax System as an example.
1. A wizard will prompt for you to key in your Company SST start date (when does your company start charging SST) and how often does your company is required to submit SST to custom.
2. After that, it will prompt to ask if you are charging Sales Tax or Service Tax and fill in the SST registration number.
3. Next, it will prompt to ask if your company are being charged by any Sales or Service Tax.
4. Moving on, it will prompt to ask if you wish to generate proposed SST Accounts? These are the accounts such as Input Tax, Output Tax etc which is usually used together with tax.
5. After completing the questions prompt by the wizard, click “Finish”.
6. After clicking on the “Finish” button, it will prompt and list out the proposed SST accounts to be generated, tax settings and which tax code to enable.
7. You can make any modification if needed such as enabling additional tax code that your company might apply. If no more modification is required, click on the “Save” button to complete your tax setup.
8. You will then be able to see those tax codes are enabled for your company.
After setting up your tax codes, you should be able to select tax codes when performing transactions.