Tax codes help your accounting team reduce manual data entry. Here is how you can configure them on your Alaan account.
When you integrate Alaan with your accounting solution, tax codes can be imported automatically. This saves you time and ensures consistency between the two systems.
When your Accounting Solution is integrated with Alaan
Step 1: Go to Settings menu on the sidebar.
Step 2: Click Manage on the Tax Codes widget.
Step 3: You should see a list of Tax Codes as defined in your accounting solution. If you would like to associate a Tax Code to a specific Category, click Here in the description at the top.
Step 4: You should now see the list of Categories (Expense Accounts) available. On the right column, under Default Tax Code, select a Tax Code for each Category using the respective dropdown list.
When your Accounting Solution is not integrated
If you prefer not to integrate your accounting solution, you may manually add the Tax Codes, or upload them in bulk. Here's how:
Step 1: Go to Settings menu on the sidebar and click Manage on the Tax Codes widget.
Step 2: Click Manage on the Tax Codes widget.
Creating Tax Codes individually
Step 3: Click the Add Tax Code on the top right corner and enter the details:
Tax Name: How users will identify it
Tax Code: Enter the accounting reference assigned
Tax Rate: Specify the percentage rate it represents
Step 4: Confirm your input and click Save Changes to add the tax code. Repeat this process for all the necessary Tax Codes.
Uploading Tax Codes in Bulk
Step 3: Click on the "Bulk Upload" option, in the top right corner.
Step 3: This should open a pop-up window. Click Here to download a CSV file with the template format for upload.
Step 4: Open the downloaded file, fill in the required columns (Tax Name, Tax Code, Tax Rate) and save it.
Step 5: Drag and Drop, or click Upload, to upload the file from your computer.
Step 6: Once the upload finishes, click Save to import the Tax Codes to Alaan.