Modules
Tax Rates
Configure tax rates for invoices and bills.
Managing Tax Rates
Navigate to Settings → Tax Rates to manage your organization's tax rates.
Tax Rate Fields
| Field | Description |
|---|---|
| Name | Descriptive name (e.g., "GST 10%") |
| Rate | Rate in basis points (1000 = 10.00%) |
| Type | Sales, Purchase, or Both |
| Default | Whether this is the default rate |
Rate Storage
Rates are stored as basis points (integer) for precision:
| Display | Stored Value |
|---|---|
| 10.00% | 1000 |
| 5.00% | 500 |
| 20.00% | 2000 |
| 0.00% | 0 |
Tax Types
- Sales — Applied to invoices and quotes
- Purchase — Applied to bills and purchase orders
- Both — Available for both sales and purchases
Tax in Transactions
When a tax rate is applied to a line item:
- Tax amount is calculated:
lineAmount × rate / 10000 - The tax is tracked separately in the transaction totals
- Journal entries debit/credit the appropriate tax accounts:
- Sales tax → Tax Payable (2200)
- Purchase tax → Input Tax Credits (1500)