In this lesson, you will learn how to create a purchase taxes and charges template under Taxes in Parsimony.com. A taxes and charges template allows you to define taxes and charges that are applicable to your purchases.
Here are the steps to create a purchase taxes and charges template in Parsimony.com:
- Log in to your Parsimony.com account and navigate to the “Taxes and Charges” section under “Accounting”.
- Click on “Purchase Taxes and Charges Template” and then click on “New” to create a new template.
- Enter a name for the template and select the currency in which the taxes and charges apply.
- Add the taxes and charges applicable to your purchases by clicking on “Add Row” and filling in the necessary details, such as the tax or charge type, rate, and account head.
- You can also set up tax and charge rules, which allow you to automatically apply taxes and charges based on certain criteria, such as the item being purchased or the vendor’s location.
- Once you have added all applicable taxes and charges, click on “Save” to save the template.
You can now use this template to apply taxes and charges to your purchase transactions in Parsimony.com. Simply select the template when creating a purchase transaction, and the applicable taxes and charges will be automatically applied based on the rules you have set up.