Account — Tax payable
The Tax payable account is a built-in account automatically added to your Chart of Accounts when you create at least one tax code in Manager.io. While this account cannot be deleted, its details such as the name, code, and group can be customized. This guide explains how to access and modify the Tax payable account.
Accessing the Tax Payable Account
- Go to the Settings tab.
- Select Chart of Accounts.
- Locate Tax payable and click its Edit button.
Available Fields
When editing the Tax payable account, the following fields can be modified:
Name
- Purpose: Set the displayed name of the account.
- Default: The default name is Tax payable. You can enter a new name as needed.
Code
- Purpose: Optionally, assign a code to the account for easier identification or sorting.
- How to use: Enter any desired code in this field.
Group
- Purpose: Designate the Balance Sheet group under which the Tax payable account will appear.
Saving Changes
- After making your changes, click the Update button to save.
Important Notes
- The Tax payable account cannot be deleted from your Chart of Accounts.
- It is automatically added once you create at least one tax code.
- For more about tax codes, see the Tax Codes Guide.
By following the steps above, you can easily rename and organize the Tax payable account to suit your accounting needs.