SETTING UP YOUR TAX YEAR

If your computer is set to Australia and the language is set to Australian English, you will not see the form as shown above. The Application will set itself up to the Australian Tax System, as required by the Australian Taxation Office.

If on the other hand, you are operating within the Australian Tax System, but your computer is not set to Australia and the language is set to Australian English, you will can still set it up manually and this is easy. When this form pops up when you run the application the first time, you simply click the "FOR AUSTRALIA CLICK HERE ONLY" button (as shown above).

If your are operating a business outside Australia, you need to set up you tax manually.

Tax Laws and figures differ from Country to Country.

 

There are following attributes to set up:

  • Your Country
  • Check if you are collecting a Tax (like VAT, GST, or whatever you may call it in your Country.
  • Give this Tax a Name (like for example Value Added Tax, GST, Sales Tax).
  • The percentage of this tax.
  • The exact start and end dates of the tax year. This is very important, and has to be correct. Setting it up the wrong way, and then resetting it later will cause the program to mal function! Read more about the Tax Year below.

Your Tax Year: 

Your Tax Year runs for 1 year minus 1 day. So lets say your tax year started on 1.Jannuary 2016 it will end 31.December 2016. Or let's say it starts on 1.July 2016, it will end on the 30.June 2017. Or if for example it starts on 6.April 2016, it will end on the 5.April 2017 and so on. You do not need to set the end date of the tax year, the application will do that for you. When you set the Start date the application automatically sets the end date for you. The Australian Tax System starts on 1.July every year. The UK starts on 6.April, in the USA the non-government tax year starts on 1.Jannuary and so on.  

If your computer's region and language is set to Australia, and that includes Australian English Language Setting, the the Application will set your program up automatically for Australia, and you will never be prompted for a manual set up.

The application will insist to set up your tax system the first time you run it. If you made a mistake, you can make amendments, but only if you have not yet ceated any sales or expense records.

How to change your tax settings.

Do not change your tax setting if you already have records in your database.

Start the program, Click on the Menu Bar > Tools > Re-configure Tax-setup, and the form as above will show up. If you are in the Australian Tax System, the form will not show, but you will get a prompt that says that the Tax Set-up has been repaired.

IMPORTANT:
The application must be set up for the corresponding tax year. You can only operate within a given tax year. If you want to change to another tax year, you need to reset the tax year you are operating at. This is different from the intial tax setting.

Click on this button when you need to operate in a different tax year.
Important:
For each year, you must set up:

  • Expense Type
  • Income Type
  • User
Once you clicked this button, the form as shown on your left pops up. Select the tax year you wish to operate on.