Setting Up Taxes

Taxes are compulsory contributions to the state/country revenue.

One of the primary motivators for compulsory use of accounting tools is the calculation of taxes. OneHash allows you to make configurable tax templates that you can apply to your sales or purchase transactions.


1. Tax Accounts

For Tax Accounts that you want to use in the tax templates, go to:

Home > Accounting > Chart of Accounts

Select an account and click on edit. Select the 'Account Type' as 'Tax' for the account.


2. Sales Taxes and Charges Template

Sales Taxes and Charges Template fetched taxes for your sales transactions like Sales Order and Sales Invoice. Click here to know about this.


3. Purchase Taxes and Charges Template

Purchase Taxes and Charges Template fetched taxes for your sales transactions like Purchase Order and Purchase Invoice. Click here to know about this.


4. Item Tax Template

The tax set in Item Tax Template applies specifically to an Item or an Item Group. It is given preference over the Sales/Purchase Tax Template. Click Item Tax Template to know about this.


5. Tax Category

Tax category helps in automatically applying sales/purchase tax templates in your transactions based on the customer/supplier chosen. Click Tax Category to know about this.

6. Related Topics
Company Setup

Updated on: 27/03/2023