The Tax Rate module allows you to add and edit tax rates that can be applied to sales and purchases. To create a new tax rate, you’ll need to enter certain bits of information about it:
Name- Tax Code
- Description
Then you must determine if it’s going to be a percentage or a flat rate and apply a number to your choice. Assign a tax agency to receive the taxes you collect from transactions and then click a checkbox to mark a tax rate as active or inactive and even use it as your default tax rate.
Different tax rates apply, depending on the country, state, county, and municipality each sale is made in. So it’s important to have a lot of options available at your discretion. Fishbowl’s integration with Avalara can help a lot in this area by doing much of the work for you.
Next week the Class module will be in session.
Robert Lockard is a copywriter with Fishbowl. He writes for several blogs about inventory management, manufacturing, QuickBooks, and small business. Fishbowl is the #1-requested manufacturing and warehouse management software for QuickBooks users. Robert enjoys running, reading, writing, spending time with his wife and children, and watching movies.
