Sales Tax Code Settings

Sales Tax Code Settings

The sales tax code settings are accessed from the "Book Settings" screen.

You can set the rounding method for the bucket totals to match what you require.

You can also set additional bucket calculations in the "Bucket Calcs" field. Place a comma between each calculation.

Bucket calculations are calculations that are performed on buckets that were collected via the sales tax codes configuration. This allows you to perform additional calculations, for example subtracting one bucket from another, and placing the result into another bucket. You can use the basic mathematical operations of addition, subtraction, division, and multiplication. You can use numbers as well as the bucket names in expressions.

You can use the buckets and bucket calculations to calculate summary totals for your Australian BAS statement, your UK VAT return, or for users in other countries for your countries specific sales tax return requirements.