Revenue and Taxes

Use this sub module to setup (create and edit) the revenues and taxes.

A revenue tax is defined as the revenues collected from taxes on income and profits, social security contributions, taxes levied on goods and services, payroll taxes, taxes on the ownership and transfer of property, and other taxes.

To access this module ;Click on Accounts Management - > Setup - > Levies & Charges - > Revenue and taxes

The following window opens up:

Revenue  and Taxes Window.

Creating Revenue and taxes:

Click on the create button to open the following window: 

On the above screen: 

Name - Enter the name of the revenue tax being created into this field. 

Tax rate - Type in the tax rate. 

Rounding Type - Select the rounding type to be associated with this charge from the drop down menu: 

After filling in the details click update

On successful completion you will get a pop up message confirming that the operation was successful.

    

Successfully created a Revenue tax.

 Editing A Revenue tax:

1. Identify the revenue tax to be edited: 

Click on the edit icon (against that revenue tax) .

On this edit screen:

Make the necessary changes to the relevant fields appropriately - name,tax rate and rounding type.

Tick necessary withholding taxes

 Click on the update button to effect the changes. 

On successful completion you will get a pop up message confirming that the operation was successful.

Revenue Tax Edited successfully.

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