Add or edit an entity’s details

Modified on Fri, 08 Mar 2024 at 04:03 PM

Right after you create an entity, the entity’s Home page opens on the Details tab, where you can add the entity’s details.

If you do not already have the entity’s Home page open, click TaxLab in the top left of your screen to open your main Home page, then locate and click the required entity to open its Home page.

On the entity’s Home page > Details tab, click the Edit button. You can add or edit the following details:

  • Name.
  • Tax file number.
  • Entity type.
  • Entity code in the accounting system: If you want to import trial balances into multiple entities at the same time, each entity needs to have a unique entity code.
  • Tax rate: This is useful if you are calculating the tax provision for a foreign tax entity. Enter the rate in the box. To undo this action, simply delete the rate from the box (leave it blank). The rate will return to the default rate.
  • Returns deadline option: Due date (default), Previous working day or Next working day.
  • Payments deadline option: Due date (default), Previous working day or Next working day.
  • PDF report theme and address.
  • Provisional tax template.
  • Tax accounting feature: The Show tax accounting setting only becomes available after you add a subscription to an income tax return service. It determines whether or not the tax accounting (provision) feature is enabled in the income tax returns. The check box is selected by default, which means the feature is enabled, and you can see the Provision report options under the Reports tab within an income tax calculation. If you clear (untick) this check box, you disable the feature and will no longer see the Provision report options under the Reports tab; you will only see the Tax Return option.

When you are finished adding or editing details, click Save.

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