Entering Tax Rates

You enter tax rates for each set of sales and purchases tax classes.

Note: When you enter a new tax rate or change an existing tax rate, the new rate will apply only to invoices entered after you save your changes. To edit the tax already calculated on invoices in open (unposted) batches, use the Accounts Taxes screen in Accounts Receivable and Accounts Payable or the Items Taxes screen in Order Entry. For more information about editing taxes manually, see A/R, A/P, or O/E help.

Before you enter tax rates, you must add tax authorities and tax classes.

To enter tax rates:

  1. Open Common Services > Tax Services > Tax Rates.
  2. Select a Tax Authority code.
  3. Select Sales or Purchases as the transaction type.
  4. For each item tax class, enter the applicable tax rates as a percentage. (For example, to enter a tax rate of 6%, type 6.00.)
  5. When you are finished, click Add or Save.

To print a list of the tax rates you have entered, click Print on the File menu. For more information, see Tax Rates Report.