Tax Authorities

tax authorities define the individual entities to which taxes are paid multiple tax authorities can be grouped into one tax schedule tax reports will define the taxes owed by tax authority access tax authorities from the system setup menu summary name enter a name for the tax authority tax category optionally select a tax category tax authority id enter a name for the tax authority id gl account select a gl account where the tax liability will be posted when the associated transaction is posted tax rate % enter the tax rate as a percentage example a rate of 025 will be entered as 2 5 tax on products not used at this time tax on labor not used at this time