We recommend completing your company tax settings before you begin using Flare daily. To complete the settings, do the following.
- Click the Setting gear icon (1 below) located in Flare’s top right menu and click Sales Taxes (2 below) in the Settings left menu.
- Enable the recoverable tax option (3 below) if you can claim a credit for sales tax paid on purchases. Enter tax IDs: government payroll tax ID, federal tax ID and state tax ID (4 below).
- Click Save (5 above).
When you enable recoverable tax, a Recoverable field is made available in the "New Tax" dialogue. Here you enter the portion of the tax that is recoverable.
- Sales tax settings.
- Create sales tax and tax groups.
- Create compound tax.