The concept of group tax enables us to combine one or more taxes into one group tax. Below are the steps to be performed to create a group tax:
1. Choose Masters-> Taxes from the main menu.
2. Choose + New Group Tax link from the available links.
3. Enter the Tax Group Name, which is a mandatory field.
4. Choose the required Associate Taxes Checkboxes. The Associate Taxes will display all the taxes that you created.
The sum of all the chosen taxes will be shown in the Tax percentage.
5. Finally, click the Save button to save the group tax details.
- Add tax
- Add dependent tax