On this page you can create, edit or delete sales taxes.
Sales or VAT taxes are taxes imposed by governments as a percent of the retail price of goods and services and collected by the seller.
First click "Taxes" from the Invoice screen to create or edit a tax type,
Create a New Tax: Click "New Sales Tax". See documentation for New Sales Tax.
Edit a Sales Tax: Click "Edit" to edit information on a Sales tax.
For either of these steps: then enter changes to the tax information and click "Save".
- Name: (required) Enter Sales Tax name.
- Rate: (required) Enter tax rate as a percentage.
- Default Account: Select the default account from the drop down menu.
- Description: Enter an optional description of the tax.
- Save: Click "Save" to save changes to the Sales Tax information.
- Cancel: Click "Cancel" to exit without saving
Delete a Sales Tax: Click "Delete" to delete a Sales Tax.
Hint: Cheqbook only allows you to apply one type of VAT tax to your customer invoices, but you often need to charge for two. Here we recommend you setup a combined tax type. For example in addition to a standard 8% tax, suppose you have an additional 3.8% Accommodations tax for a total of 11.8%. You would not setup the Accommodations tax as a separate 3.8% rate, since you cannot apply two taxes. Instead setup a combined 11.8% rate account since the Accommodations tax is always applied with the standard tax.