On this page, you will find a detailed and comprehensive overview of the “Inventory Item Tax Types” page, its features, how to access it, and an explanation of how to add, edit, and delete tax types.
To access the “Inventory Item Tax Types” page, please follow the instructions below:
- Start by clicking on the “Settings” menu in the main menu.
- Then, click on “Financial” available in the top bar of the page.
- You will be directed to the “Inventory Item Tax Types” page, which displays all types of taxes saved in the system.
Features and Uses of the “Inventory Item Tax Types” Page:
- Adding Inventory Item Tax Types: You can add an unlimited number of inventory item tax types to later link them with inventory items in the system.
- Editing Inventory Item Tax Type Data: You can edit all tax type data, such as description and whether the type is exempt or partially exempt from tax or subject to another tax type, to ensure it fits your business requirements.
- Deleting Inventory Item Tax Types: You can delete any tax type for inventory items, but it must not be associated with any inventory item.
By using the Inventory Item Tax Types page, you can efficiently organize and customize your tax types according to your business needs.
Explanation of How to Add a “New Inventory Item Tax Type”:
- Description: In this field, you are required to add a clear description representing the new tax type you want to add. This description will be displayed to users when they need to add a new inventory item to ensure proper understanding of the tax type.
- Fully Tax Exempt: You can use this option to specify whether the new tax type is fully exempt from taxes or not.
- Linking the Type to Basic Types: There is a table at the bottom of the page that displays all basic tax types. You can use the buttons next to each tax type to link the new tax type to the basic tax type it relates to. You can link it to one or more types as needed.
After filling in all the required details, click the “Add New Record” button. A new inventory item tax type will be successfully added to the system.