Add tax codes, add nominal codes, and configure asset depreciation methods
When you get your vehicle repaired there is almost always some sort of labor charge associated with the job. Customer may be charged different rates depending on a number of factors: Day of repair (Pe...
Tax codes indicate the rate of tax to be paid on goods and services. In the UK and Ireland, the tax on goods and services is called VAT. For example, the rates in the UK are as follows: Rate % of VAT ...
Nominal codes are the unique reference numbers given to each nominal account for a business. Accounting transactions use these nominal codes so that money can be accurately allocated to the correct no...
Depreciation is a process of deducting the cost of an asset over its useful life. Assets are sorted into different classes in Assetminder called Asset Types and Asset Subtypes, and each can have its o...
If there is a change in the VAT/Tax rules, the first thing to do is check with your Accounts/Finance department to find out how that change is being applied in your Accounts software. For example, a n...