Adding a new Tax on the account

1. From the main menu, click on “Settings”.
2. Select from the menu “Tax Settings”.
3. Click the “Add New Tax” button located below the tax list.
4. Enter the tax name in the “Tax Name” field.
5. Enter the required tax percentage in the “Tax Value” field.
6. Select the tax type and its calculation methods with respect to the unit price and choose between “Inclusive” or “Exclusive”.
   • Note: To learn more about the types of taxes, see “The Difference Between Inclusive and Exclusive Tax“.
7. Click the “Save” button.

Note: Once saved, a sub-account for the tax will be added within the Chart of Accounts and will be categorized in the directory as follows:
Liabilities > Current Liabilities > Value Added Tax (for example).