Creating a Percentage Tax Code

In mixed non-VAT sales invoices, use of percentage tax codes supports accurate sales breakdowns and reporting.

To create a percentage tax code:

The new percentage tax code appears in the Tax Code column on sales transactions.

See About Mixed Non-VAT Sales Invoices for a sample invoice and related details.

1. Go to Setup > Accounting > Taxes > Tax Codes > New.

2. Enter or set vales for the following fields:

   • Tax Code - Enter the name or abbreviation for the tax code.

   • Description - Enter a brief description.

   • Rate - Enter the tax percentage charged on items by this tax code.

   • Exempt - Don't check this box. If you check both Exempt and Percentage Tax boxes, the system may return an error when calculating the tax summary.

   • Tax Type - Select the appropriate tax type to associate with this tax code (for example, NON-VAT PH).

     To create a new tax type, go to Setup > Accounting > Taxes > Tax Types. See Tax Types Overview for more details.

   • Available On - Select the transaction type to which this tax code applies.

   • Percentage Tax - Check this box to display the sales that is subject to percentage tax amount in the Sales Breakdown table.

3. Click Save.

Related Topics

• Setting Up Additional Preferences for Philippines Invoicing
• Updating the Taxpayer Branch Code
• Displaying VAT Breakdown
• Specifying Liability on Philippines Documents
• Specifying the Address on Printed Forms
• Customizing Philippines Document Printing Preferences
• PDF/HTML Templates of Philippines Documents
• Specifying Exempt Transactions
• Specifying the Seller Type on Philippines Documents
• Creating Discount Items for Philippines Invoicing
• Assigning Permissions to Custom Roles for Philippines Invoicing

General Notices