Commonly, expenses that are placed in the same accounting category have the same tax rate. In Payhawk, you can associate an expense category with a default tax rate. In this way, the system will be able to apply the default tax rate to the expense category once the expense category is suggested by the optical character recognition (OCR) tool.
Creating tax rates
To create a default tax rate and apply it later on to an expense category in Payhawk:
Log in to the Payhawk web portal.
Go to the Settings > Expense fields > Built-in section.
Select Tax rate by clicking on it.
Click on the + Add rate button.
Enter the tax name, code, and rate.
Click on Save.
As a result, you can apply the newly created default tax rate to existing or new expense categories.
Editing and deleting tax rates
To edit or delete an existing tax rate in Payhawk:
Go to the Settings > Expense fields > Built-in fields section.
Select Tax rate by clicking on it.
To edit the tax rate, hover over it and click on the Edit icon. Update the desired information and click on Save.
Alternatively, to delete the tax rate, hover over it and click on the Trash icon. In the dialog that opens, select the checkbox and click on Delete rate to confirm your choice.
