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How to set up your business's tax rates (beta)

  • Updated

Set up the tax rates your team selects on expenses, whether synced from your accounting software or managed in Weel; see how tax rates work.

Before you start

  • You'll need Admin access to set up or manage tax rates.

Steps

If you have an accounting integration (Xero, QuickBooks, MYOB, NetSuite or Business Central)

Your tax rates sync automatically from your accounting software, and Weel mirrors them exactly. Weel won't create rates you haven't set up on the accounting software's side, and synced rates are read-only in Weel, so you can't edit or delete them here.

The first sync happens once your integration is connected and verified. After that, changes reach Weel through the nightly scheduled sync, or immediately if you run a manual sync yourself (Settings > Chart of Accounts > Sync with [your integration]).

To add, edit or retire a rate, make the change in your accounting software directly, not in Weel. To see which rates are currently synced, go to Settings > Expense fields, then select Edit available tax rates.

If your business runs on Wiise

Weel also connects to Wiise, the Australian ERP built on Microsoft Dynamics 365 Business Central, to sync your chart of accounts, dimensions and tax codes, using the same Business Central APIs. This isn't a self-serve connection yet: it's available in beta on the Enterprise plan, and your Weel account manager sets it up for you (or email success@letsweel.com).

If you don't have an accounting integration

When your account is created, Weel automatically sets up two default tax rates for you: a domestic rate named "GST applied" (set to your business's default GST rate, 10% for Australian businesses or 15% for New Zealand businesses) and an international rate named "No GST" (0%). Use these as they are, or manage your own:

  1. Go to Settings > Expense fields.
  2. Select Edit available tax rates.
  3. Select Add new tax rate, give it a name (for example, "10% GST") and the rate itself, then select Create tax rate.
  4. Use Edit in a rate's actions menu to update its name or percentage.
    • Renaming always works, whether or not the rate is in use.
    • Changing the percentage only works before a rate is in use (not mapped to a category or chart-of-accounts default, and carrying no synced tax breakdown); Weel creates a new rate behind the scenes and retires the old one, so nothing that used the old rate is affected.
    • Once a rate is in use, changing its percentage is rejected, with no in-app message explaining why. Instead, add a new rate with the new percentage, point your category/chart-of-accounts mapping at it, then remove the old rate.
  5. Use Remove in the same menu to delete a rate you no longer use.
    • You can't remove a rate that's set as your domestic or international default; choose a different default first.
  6. Choose which rate is your domestic default and which is your international default from the same panel.

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