General Ledger Accounts
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      3. General Ledger Accounts

      How to create a Tax Code posting

      These accounts are assigned where multiple GL accounts are required for Input Tax and Output Tax. Where the following accounts are assigned to a Tax Code, they will override the Default GL Accounts for input tax and output tax.

      Steps:

      1. Navigate to Set Up Files > Tax Codes.
      2. Click the Tax Code that GL account postings are to be assigned to.
      3. Enter or select the applicable GL accounts. 
      4. Click SAVE or SAVE & CLOSE. 

      Medium KB -Jul-12-2023-02-56-23-9542-PM

      Account Description
      *Output Tax GL Account

      Tax on client invoices for the selected tax code.

      For example: 

      The tax amount for a client job invoice is credited to this account, where the invoice tax code matches the selected tax code.
      *Input Tax GL Account

      Tax on supplier invoices for the selected tax code. 

      For example: 

      The tax amount for a supplier invoice is credited to this account, where the invoice tax code matches the selected tax code.

      * Indicates this is compulsory – a GL account is required.