Tax Zones and Categories: To Define a Tax-Exempt Category

In this activity, you will learn how to define a tax-exempt category in the system.

Story

Suppose that the SweetLife company is going to purchase services from vendors and provide services to customers. All of these services are tax-exempt. Acting as an administrator, you need to define a tax category in MYOB Acumatica.

System Preparation

Before you start defining the credit terms, make sure that the company and its actual ledger has been created, as described in Company Without Branches: To Configure a Company Without Branches and General Ledger: To Create an Actual Ledger.

Step: Defining a Tax Category

To define a tax-exempt category, do the following:

  1. Sign in to the company you have prepared with the admin username.
  2. Open the Tax Categories (TX205500) form.
  3. On the form toolbar, click New Record.
  4. In the Summary area, specify the following settings:
    • Tax Category ID: EXEMPT
    • Description: Exempt Tax Category
  5. On the form toolbar, click Save.