Step 2: Set your default tax rates

Step 2: Set your default tax rates

Set Default Tax Rates

Now you've connected your accounting software, here's a quick but significant step - make sure you don't skip this one! Your preferred settings here will save you a lot of time later from coding each line item individually on what tax code taxed items should be. 

Here's a video to take you through setting up your Default Tax Rates

Setting your default tax rates from Lightyear on Vimeo.

Regardless of which Accounting Software you're using, it's important to set your Default Tax Rates to ensure that any bills processed through Lightyear are coded to tax correctly. To do this, click 'Edit' next to 'Tax Rates' in the Accounting Software Settings section.

Select one 'Default Tax' and one 'Default Tax Free' using the check boxes. For example:

With this done, Lightyear is now ready to start receiving PDF files.

Alternative Tax Rate Setup

If you would like to automatically gross up your tax rates, or if certain suppliers have different tax rates, please refer to this article.

Now you are ready to move on to the next step and Send a document into Lightyear.


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