It is very easy to add a tax rate in Xero. Here’s a quick tutorial on how to do it in simple steps:
- On Xero's main dashboard, go to the top menu bar and click 'Accounting'.
- Choose 'Advanced' from the list of options.
- After that, tap 'Tax Rates' to proceed.
- Click 'New Tax Rate'.
- Following that, come up with a unique Tax Rate Display Name and enter it into the provided input field.
- Provide the Tax Components of the new tax rate you're about to create. Indicate the description, along with its corresponding percentage. Enter the details into their respective input fields.
- If you wish to include more components, simply click the 'Add a Component' button.
- Once done, review your input and click 'Save'.
- After completing these steps, the new tax rate will be added to your Xero account.
