Tax Categories

Understand tax categories and learn how to create/modify or delete one.

Julie Bennett avatar
Written by Julie Bennett
Updated over a week ago

What is a tax category?

Tax categories will allow you to overwrite at the contract line level the default value you have defined in the Invoice Settings (under the Settings of PSOhub).

You can create different tax rates which can be used for different contract lines (e.g. you could have one tax rate for each type of expenses).

You will create your tax rates in the Settings of PSOhub and define them at the contract line level of a project under Accounting Details.

Create a tax category

To create a tax category, click the Gear icon.

And on the left hand side menu, navigate to Tax Categories.

Click Add Tax Category.

In the next screen enter the name of this tax rate and specify the percentage.

The field Tax Code must only be populated if you are integrating with Exact, in which case, you must enter here the tax code of Exact related to this tax category.

Note that you can define up to 6 decimals for a rate. The decimals will be taken into account when calculating the tax at the contract line level and rounded up to 2 decimals at the total level of the invoice.

Modify a tax category

To modify a tax category, simply click on the existing tax category, modify the information and hit save. New invoices will be calculated with the new tax.

Delete a tax category

To delete a tax category, simply click on the existing tax category and hit Delete. You can only delete a tax category if it hasn't been used on an invoice.

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