Tax codes in Skylight are used to mark a specific percentage (%) of tax that is applied to a line item in an invoice, quote or purchase order.
Your business might need to charge tax on invoices that it issues. It might also need to account for sales tax, value-added tax (VAT). These are not the only type of tax, as you might also need to account for multiple taxes in the form of compound taxes, like in countries such as the USA or Canada.
In Skylight Online Invoicing App, you can create and import your own tax rates specific to your country and region. Sales tax and value-added tax or VAT as we call it here in UK are all examples of Tax Rates.
Tax rates work on percentages and they are recognized by name (see below) when using them in Skylight’s invoicing system. The name of any tax code is what you will see when using tax rate anywhere in Skylight accounting system.
If a tax is named VAT and the percentage is 20% for the UK, the name could be VAT 20% or VAT -Standard for easy identification.
Do you just need to add a single tax for now? Click here:http://support.skylightit.com/getting-started/business-settings/invoice-sales-tax-rates/
You can import, create new or edit existing tax rates.
Import Tax Rates in to your Skylight Account
To import tax rate presets from a CSV (Comma Separated Values) file, visit your Company Settings (1) and browse to Overview (2) and click on Tax Rates (3). Or copy and paste this link: https://secure.skylightit.com/tax_rates into your browser.
On the next screen you will see all the Tax Rates in your account; if you are just setting up, then this screen will be blank. Now, click on the drop-down ActionsMenu (1) in the Tax Rates tab and select Import (2) option.
On the next screen you can download a CSV template for editing in Excel. Please also read the instructions for editing CSV files for import provided on the page.
Click on the link template tax rates CSV file (1) to download the template.
Preparing Tax Rate CSV file
Editing CSV file notes:
- Please leave the first row intact this tells you and the import system what each column represents.
- Please populate the file with one row per record that you wish to import.
- Please save your finished file in CSV format, not Excel format.
After editing the file save it back as CSV.
If you would like us to add your country to this list of default templates, please send your CSV formatted file to: firstname.lastname@example.org
Import Tax Rates from cvs file
Click on Choose File button and browse to the Tax Rate CSV file saved on your computer drive. Select Upload to import your updated CSV file back into Skylight.