How to set up custom VAT rates

Steps

  1. Navigate Settings > Organisation > Tax > Manage VAT schemes
  2. Create a new custom GST scheme
  3. Navigate Settings > Sales Tax
  4. Add a new Sales Tax Rate

Guide Information

  • Difficulty: Intermediate
  • Estimated Completion Time: 5 minutes

Step 1.

Navigate to “Settings > Organisation > Tax” and click on “manage vat schemes”.


Step 2.

Select the “Custom GST Scheme”, whether you are invoice or cash accounting, the period of the scheme and the custom VAT rate and then click “Add”.

Step 3.

Now that the custom VAT scheme has been added you can add as many custom VAT rates as you like on the new Sales Tax menu.

Navigate “Settings > Sales Tax” where all sales tax rates are listed and click the “Add” button.

Step 4.

Give the Sales Tax a name, a rate as a percentage and tick whether you would like it to appear in sales and purchase lists and then click “Create new rate”.

The new custom VAT rate will now be set up and saved.