You can create a Custom tax rate in QuickBooks Online to set your tax code, @neil-leak. Let me walk you through the process.
In QuickBooks Online (QBO), managing tax rates is an essential part of effectively handling your accounting and financial responsibilities. Tax rates can be applied to invoices, sales receipts, and other transactions to calculate the amount of tax due on sales or services.
Here's how:
- Go to Taxes, then select Add Tax.
- Click Custom Tax.
- Enter the Tax name and Description.
- Select whether this new tax rate applies to Sales Purchases or both.
- If you've selected Sales, enter the Sales rate applied for the Sales transaction.
- If you've selected Purchases, enter the Purchase rate.
- Click Save.
Don't hesitate to return to this forum or respond directly to this message if you encounter any further challenges with your taxes or other QuickBooks Online tasks. We're here to assist you with any aspect of QBO that you find challenging.
