How to create a Tax Master in RanceLab Software?

Use the following steps to create a tax master in RanceLab Software

1. Go to Main Menu>Master Data management> Accounts> Tax Master (M> A> T)
2. Enter tax name in ‘Name’ field (As “Vat Input @13.5% “)
3. Go to ‘Included in rate’ field
4. Alt + L
5. Select ‘Yes’ or ‘No’ from the list. (Select ‘Yes’, if the Tax is included in the price. In that case, tax would be automatically computed internally and posted to the ledger. Select ‘No’ if the Tax is to be separately charged)
6. Go to ‘Account’ field
7. Press Ctrl + N (It will lead you to Account creation page, to create a new account for that particular tax).
8. Enter the account name in ‘Account’ field (as ‘vat input @13.5%’)
9. Enter other details
10. Save
11. Press ‘Esc’ button from your keyboard to go back to the previous (Tax master creation) screen, you can also use the ‘Exit’ button.
12. Go to Account field
13. Press Alt + L
14. Select the newly created account name (vat input @13.5%) from the list
15. Go to ‘Tax%’ field
16. Enter tax rate here (as 13.5)
17. Save.

For more detail please visit:

• http://www.rancelab.com/help/fr6_tax_master.htm