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Tax codes and rates

Maintain the VAT tax codes finance uses — their rate, net rate, quota, digit and type — and link each one to the finance accounts it books against.

Tax codes define the VAT rates your bookings and invoices apply. Each code carries a rate and the accounting details finance needs to post the tax and report it correctly.

Open the tax codes

Go to Finance → Taxes to see all your tax codes with their name, rate, net rate, quota and digit (the VAT-form position the code reports to).

The Taxes list showing tax codes with their name, rate, net rate, quota and digit columns, and the Create action.
The Taxes list showing tax codes with their name, rate, net rate, quota and digit columns, and the Create action.

Create or edit a tax code

  1. On the Taxes screen, click Create (or open an existing code to edit it).
  2. Enter the Name and Rate. Set the Net rate, Quota and Digit as needed for reporting.
  3. Choose the tax Type and the VAT billing type.
  4. Select the finance accounts this tax books against, and mark exactly one of them as the default account.
  5. Save.

Hide or delete a tax code

Turn on Hidden to keep a tax code out of everyday selection lists without deleting it. You can delete a code from the list, but Vinosoft blocks deletion if the code is still referenced by bookings or invoices.

Related: Finance. See also The tax report and The tax journal for how these codes feed VAT reporting, and Accounts and the chart of accounts for the accounts you link them to.

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