Basic Tax Setup in the US Version

To ensure compliance with local tax reporting, use the Tax Setup page to define basic tax information in Business Central. The page guides you through settings such as choosing the proper group code for non-taxable sales and the default accounts for posting calculated tax.

Tip

Business Central is available in countries that use value-added tax (VAT). For information about how to set up and report VAT in your country, see the articles in the Local Functionality section.

Set up taxes

  1. Choose the Lightbulb that opens the Tell Me feature icon, enter Tax Setup, then choose the related link.
  2. On the Tax Setup page, fill in the fields. Hover over a field to read a short description.
    • On the Default Accounts FastTab, specify the general ledger (G/L) accounts to use for posting calculated tax on different transactions. Learn more about how to set up or edit G/L accounts at Set Up or Change the Chart of Accounts.

Tip

If you are in the US, we recommend running the Tax Setup together with the Set Up Sales Tax assisted guide. Learn more about the guide and other important pages and fields to set up at Reporting Sales Tax in the US.

See also

United States Local Functionality
Finance
Setting Up Finance
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