Sales tax codes , VAT codes , GST codes , HST codes

Sales Tax Codes List

Sales tax codes are set in the “Sales Tax Codes” screen which is accessible from the “Administration” menu item on the main menu.

The bookkeeping program is designed to work in many different countries and regions each of which have different sales tax arrangements. As such the program does not set up your sales tax codes, VAT codes, GST codes, HST codes, etc and you are required to do this for your particular country and region. This is a one time task that you need to do before using the program to enter sales or purchases if you want to capture the sales tax related to sales and purchases.

By default the program has a sales tax code of NT with 0% tax that is used for sales with no tax, and a sales tax code of TAX with 10% tax that is used for sales with tax. You can edit the TAX sales tax code and change its name to GST, VAT, etc and adjust the percentage rate to match the rate that you require for your jurisdiction.

The NT tax code is a system tax code used to record all sale and purchase related transactions that have no sales tax assigned. This is used for reports relating to sales taxes collected and paid. e.g. the Consolidated Tax Statement.

For Australian users, the program will set up a default set of GST tax codes for Australia. You may adjust these to meet your needs if required. For UK users, the program will set up a default set of VAT tax codes for the UK. You may adjust these to meet your needs if required. These default tax codes are a guide only and you need to ensure that they reflect your countries current taxation requirements.