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Tax Components and Tax Schemes
Getting Started > Setting Up a New Company > System Setup > Tax Components and Tax Schemes

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Introduction About:

Interprise Suite let’s you set up all applicable taxes, in a state for example, into tax components and create new tax schemes from them. It is important to take to account all the taxes that apply to every area of your business.

Note:
UK based companies setup in Interprise Suite will have default UK Tax included while US based companies will have two default sales tax schemes, Sales No Tax and Purchase No Tax which are both zero-rated taxes.

Examples of how to set up tax components and schemes are demonstrated. You may set up tax schemes and tax components from the Setup menu of the System Manager module.

  1. Sales and Purchase Tax Schemes
  2. Multiple Component Tax Schemes
  3. Compounded Tax Schemes
  4. Flat Amount Tax Scheme
  5. Other Tax Options
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