Taxability Codes allow you to quickly define whether a line item or component is tax-exempt, taxable, or taxable with exceptions, based on government policies. These codes can be managed under Settings/Accounting/Taxability Codes or Accounting/Settings/Taxability Codes depending on your permissions.
Adding Taxability Codes
1. Click the plus button to create a new Taxability Code.
2. Enter a Name that helps you identify which line item or component (i.e., goods and services) will use this code.
Note: The name you choose is the Taxability Code.
3. Select the type of Tax Treatment (Taxable, Tax Exempt, Taxable with Exceptions) then click Save.
4. To edit an existing Taxability Code, click on a code from the list and make your changes.
Note: Changes you make will be autosaved in the system.
