2 docs tagged with "tax rates"

Raytio's Financials – Tax (FTX) module manages tax configuration and calculation for Accounts Receivable and Accounts Payable transactions. It supports multiple tax regimes (e.g. New Zealand GST, Australian GST, UK VAT), multiple classification codes per regime, and automatic tax calculation when transactions are completed or validated.

Tax configuration in FTX follows a three-level hierarchy: regimes define the tax framework for a country, taxes define the individual tax types within a regime, and rates define the percentage and classification for each tax.