Accounting Manager - Accounts Tax Codes

Modified on Mon, 17 Oct 2022 at 11:03 AM

Here you can add in your different tax codes that Hop will need to correctly assign your transactions to the correct VAT code.

You will likely only need to setup a 0% VAT code and a 20% VAT code; however, this will vary depending on your location. We advise that you speak with your accountant if you are unsure which codes to setup.

To create a new code, you need to click the add button at the top right, this will then open a new screen where you can enter the information

Option Type

This is preset to Accounts Tax Code

Option Value

This will be your relevant code e.g. Sage 50 T1= 20%

Sort Order

This will be the order that the tax codes appear in a drop-down list if you, for example, would like T1 to show first in the list add 1 under sort code.