Every business is required to meet its local, state, and federal local tax compulsions to persevere their decent legal position. The location and structure of your business has an impact on the types of taxes your organization has to pay. In Pakistan, businesses are obligated to make income tax payments to FBR while sale tax payments to their respected provisional boards of revenues. As a business owner you must be aware that tax time does not come once a year; in fact you are expected to make tax payments all through the year. However, it is generally a considerable adjustment for small business owners in Pakistan to meet their tax obligations. Nevertheless, in order to avoid inconvenience, businesses have started using accounting software for making tax payments timely and precisely.
Making Tax Payments with LedgerMax
You may be required to pay taxes for certain services and goods you offer. LedgerMax helps you make tax payments with utmost convenience and accuracy. Manual tax payments include hours of hard work plus there is always a risk of human error while an accounting software like LedgerMax maintains tax records and lets you pay your tax liabilities on time.
Here’s how you can make tax payments with LedgerMax in 5 simple steps:
- Open Tax Center and click on Pay Tax tab at the right side of your screen.
- Now select Tax Period indicating the tax month and the bank from which the payment is to be made.
- Enter the cheque number.
- Now choose the Tax Type from the given options i.e. General Sales Tax, Income Tax, Sindh Sales Tax etc. This will automatically show you to the outstanding amount of the payable tax.
- Lastly enter the Tax Payment and save and close the tab.
Watch the following video to learn how to make tax payments with LedgerMax: