How to add a tax?

2 weeks ago
help_content
1 minute

To add a tax, simply follow the steps below:

  1. Access the Finances module.
  2. Click on the “Taxes and Duties” tab.
  3. Click on the “Add a Tax” button.
  4. Fill in the tax details:
    • Start by selecting the entity by clicking on the blue icon, as shown in this image.
    • A new page will appear. Enter the entity name (e.g., “Tax Authority”), then click “Save.”
  5. Enter the following details in the corresponding fields:
    • Tax Name: What is the exact name of this tax?
    • Currency: In which currency is this tax expressed (e.g., Dirham, Euro)?
    • Effective Date: From which date does this tax apply?
    • Due Date: Until when does this tax need to be paid?
    • Applicable Product: To which product or service does this tax apply?
    • Initial Product Price: What is the price of the product before adding the tax?
    • Tax Rate: What percentage of tax should be applied to the initial price?
    • Recoverable: Can this tax be recovered? (Check the box if yes).
  6. Click the “Save” button to store your data.