How to set up your Taxes?

Why is setting up your taxes important?

Imagine you're running a stall. You sell bread and make some money out of it, but you also have expenses like sugar, flour and plastic. Taxes are like a special kind of "pastry stand fee" that the government collects.

In accounting terms, taxes are mandatory contributions made to the government based on your income, expenses, or other financial activities. Companies and individuals both pay taxes, and the specific types and amounts vary depending on location and circumstances. 

How to set up Taxes in Biztory?

1. Click on your profile icon and go to the company tab and click settings.

  2. On the side panel, click Taxes.

3. Next, click SST

4. Turn on enable SST

5. Go back, and click on SST List.

6. Enter the details of the Tax. Or if you want to add another Tax, you can click on Add Tax.

7. Once you're done, hit Save.

How to set up Taxes for product in Biztory?

1. Go to your Product/Services.

2. Click Add New and choose whichever product you want. 

3. If you are selling this product, be sure to enable these two to set your taxes for this product.

4. If you are buying this product, be sure to enable this section here.

5. Once you're done filling up the details of your product, click Save.

How to set up Taxes for invoices in Biztory?

1. Go to Sales Invoice.

2. Click Add New.

3. Upon choosing a product in the form page, there's a Tax field for you to choose.

4. Once you're done filling up the details, hit Save.