Lesson 3 of 6
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How to Create a Item Tax Template

In Parsimony.com, creating an item tax template is a simple process that can be done in just a few steps. An item tax template is used to define tax rates for individual items that are being bought or sold. Follow the steps below to create an item tax template:

  1. Log in to your Parsimony.com account and navigate to the “Taxes” section.
  2. Click on the “Item Tax Template” option.
  3. Click on the “New” button to create a new item tax template.
  4. In the “Item Tax Template” form, enter a name for the template in the “Name” field.
  5. In the “Item Tax” section, click on the “Add Row” button to add a new row for each item.
  6. In the new row, select the item you want to apply the tax rate to from the “Item” dropdown menu.
  7. Enter the tax rate in the “Tax” field.
  8. Click on the “Save” button to save the item tax template.

Once you have created an item tax template, you can use it to apply tax rates to individual items in sales and purchase transactions. This helps to ensure that tax rates are applied accurately and consistently, saving you time and reducing the risk of errors.