Audience: Neo1 Admins
Purpose
As a part of your spend manage setup, you will want to properly set your tax codes (rates). As you continue to manage your spend setup, you can create new tax codes and rates at any time in seconds – as soon as they are created they are available for use.
Neo1 includes default tax codes relevant to your country, however, you may wish to edit the tax codes to align with the data presented within your finance system to simplify your transaction import during reconciliation.
Tip: If you have connected Neo1 to your finance system then your taxes will be automatically imported
Overview
- View tax codes (rates)
- Adding tax codes(rates)
- Edit tax codes(rates)
- Delete tax codes(rates)
- Default tax settings
View tax codes (rates)
Step 1: Click on Settings
Step 2: Click on Taxes. You will see the default configuration. You can add and edit tax codes/rates
Adding tax codes(rates)
Step 1: Click on the blue + on the top right hand-side
Step 2: Add the Code, Rate and Display name. All these fields are mandatory
Step 3: Click on Confirm
Edit tax codes(rates)
Step 1: Hover your mouse over the tax line and click on Edit (pencil icon)
Step 2: Edit the details
Step 3: Click on Confirm
Delete tax codes(rates)
Step 1: Hover your mouse over the tax line and click on Delete (trash icon)
Step 2: Click on Confirm delete
Step 3: A green pop up box will appear.
Default tax settings
When you have updated your tax codes, you can update your tax settings to instruct Neo1 which tax codes to use
Step 1: Under Defaults, use the dropdown to update the default codes/rate if needed.
Step 2: Click on Confirm
Note: Any new tax codes will be immediately available, if you delete a tax code it is no longer valid for use and may trigger expenses to be passed back to the user for justification. Deleted tax codes are not removed from the system or from reports with historical data, they are instead no longer available from that point on. Depending on your configuration settings, end users may have the ability to define the tax code and or tax amount paid on an expense in the Justify stage of the platform.
Next Steps: Mapping Expense Types