Adding and modifying tax rates

Taxes are essential for full financial compliance. Depending on the country you are in, the services you offer, and the various taxation regimes you have to follow, the tax rates vary. It is also possible that you have a group tax such as in the case of GST in India where the state and central GST rates together form the total tax rate. 

Keka PSA's billing features have a robust tax feature that allows you to add various taxes that are usually applied to the project invoices. You can add specific taxes or group taxes to Keka PSA and this can then be added to the invoices you are creating. 

Let us see how you can add taxes to Keka PSA and how to manage the various taxes that are added to the system. 

To add a new tax rate, navigate to Project (1) from the left navigation pane and select Finance tab (2). Select the Settings tab (3) and then go to Taxes (4). 

You can add an individual tax or a group tax from this page. Let us first look at how to add an individual tax.

Adding an individual tax rate

Click on +Add Tax and then select Add Tax from the drop-down.

In the Add Tax window, enter a Name for the tax. Select the Legal Entity for which this tax is applicable. Also, enter a Tax Rate %. Click on Add once you have added all the details to save the new tax.

This will save the new tax rate. 

Adding a group tax rate

Group taxes combine two different taxes that you have added to create a group tax. To add a new group tax rate, click on +Add Tax and select Add Group Tax from the drop-down. 

Enter a Name for the group tax and select the Legal Entity for which this tax rate applies. In the Taxes section of the window, select the taxes you want to add to create a group tax. Click on the drop-down and select a tax rate that you have configured. You can also add a new tax from here by clicking on +Add New Tax. 

Once you have added the details, click Add to save the new group tax. 

You can see the various tax rates you have added here on the Tax Rates page. You can easily enable or disable a tax rate using the toggle button under the Status column. To edit a tax rate, click on the Edit icon under the Actions column.

That's all about adding and managing tax rates on Keka PSA. More questions? Talk to our product experts today!