Ledger | Account Maintenance | Set default TAX rate

Question:

Is it possible to change the default TAX rate on IQ to normal TAX. 

The problem is each time I try to post a Cashbook entry the system sets the TAX rate to 0.     

 Answer: 

Yes it is possible. 

Steps:

Navigate to Ledger --> Account Maintenance. 

Select the Ledger Account that you would like to change and click on the Edit button. 

Navigate to Default Tax Rate section and select the option: 1 Normal VAT Rate 15%.

Click on the Accept button to proceed. 

• Related Articles

• Filters | Set default filter

  Question: Is it possible to set a default filter on the system? I would like to apply a default filter to display all the non-on hold or active debtor accounts in the system. Answer: Yes it is possible in version 2024.1.0.0. The operator will have ...

• Is it possible to reallocate an account in IQ/ERP Go without posting a ledger journal?

  Question: Is it possible to reallocate an account in IQ/ERP Go without posting a ledger journal? We have noted that there are ledger transaction entries that were posted to the VAT Output account but should have gone to the VAT Input account. Answer: ...

• Ledger | General Journals | Greater than ledger maximum date: 2026-02-28

  Issue: When attempting to post a General Journal, the system displays the following error message: “Greater than ledger maximum date: 2026-02-28” Cause: The transaction date you are trying to post falls outside the allowed posting range, as the ...

• Debtors / Creditors | ‘Preferred Tax Rate’

  Version: 2024.2.0.0 and higher. Overview: The user will now have the ability to specify / select a ‘Preferred Tax Rate’ for Debtors / Creditors.

• Processing | Tax Rate selection per line

  Please note that the material are courtesy of the IQ Retail training division. Version: 2024.2.0.0 and higher Overview: The user will now have the option to select another tax rate by selecting the Tax rate in the processing modules. This will also ...