Tax Code rate changes

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See this Guide, which describes exactly your situation:

Work with multi-component custom tax codes

Multi-component custom tax codes present several accounting challenges. Individual tax components may be: Levied by different tax authorities Payable to tax authorities on different dates Subject to rate changes at different times Applicable to different customers Effective only for certain categories of goods or services Basic instructions for creating multi-component custom tax codes are contained in another Guide. Read that Guide first. Those instructions are adequate for simple situations…

It’s not simple. But if you always charge all components of a tax code, see this Guide:

Setting up tax codes

Tax codes are available under the Settings tab to track obligations for sales tax, goods and services tax, value added tax and other taxes imposed by a country or regional tax authority. [image] When you are using tax codes, you will be able to select a tax code for each transaction line. For example, if you receive 1,100 which includes 10% tax, it can be recorded as follows. [image] Similarly, if you spend 550 which includes 10% tax, it will be recorded like this: [image] By using tax cod…