Financial Settings - Tax Rates

Main Menu | Admin | Financial Settings | Tax Rates

The Tax Rates settings enable you to add or edit New Tax (GST) rates. 

To add a new Tax Rate

• Click the + Rate button

  

• Enter a description for this Tax Rate, e.g. GST - Aus
• Select a Tax Rate percentage from the drop down list
• Tick the checkbox if this rate is going to become the Default for new financial transactions
• Change the Setting Status from Active to Archived if this Tax rate is no longer in use.  Note that it cannot be changed to Deleted, as financial transactions are likely to have been recorded against this GST rate.

Where are Tax rates used?

Tax rates are used in multiple places within Odyssey, such as in the Chart of Accounts Here 

Costs in Odyssey are Tax Inclusive