Accounting tax rates

Create a tax rate

Create a tax or VAT rate for use in expense management. You can attach the created tax rates to line items in receipts via the accounting_tax_rate_id field of line items.

Note: These tax rates are different from /custom_vat_rates and /vat_rates which are used in accounts receivable.

post/accounting_tax_rates

Request

  • Base URL: https://api.sandbox.monite.com/v1
  • URL: https://api.sandbox.monite.com/v1/accounting_tax_rates
  • Auth: HTTP bearer

Headers

x-monite-versionstring required
x-monite-entity-idstring required

The ID of the entity that owns the requested resource.

Request body

codestring

A user-defined reference code by which the tax can be identified. This is similar to the codes used in accounting systems.

descriptionstring

An arbitrary description of the tax rate.

effective_tax_rateinteger

The tax rate value as the percentage multiplied by 100. For example, 12.5% is represented as 1250.

namestring

The display name of the tax rate.

Response

Successful Response

idstring uuid required

A unique Monite-generated ID assigned to this tax rate. You can use this ID as the value of the accounting_tax_rate_id field in line items of payables, receivables, and receipts.

created_atstring date-time required

UTC date and time when this tax rate was created in Monite. Timestamps follow the ISO 8601 format.

updated_atstring date-time required

UTC date and time when this tax rate was last updated in Monite.

codestring

The reference code of the tax rate.

descriptionstring

An arbitrary description of the tax rate.

effective_tax_rateinteger

The effective tax rate value as the percentage multiplied by 100. For example, 12.5% is represented as 1250.

For manually created tax rates (is_external=false), this is the tax rate value defined by the user.

For tax rates fetched from accounting systems (is_external=true), the effective tax rate is calculated based on the components.

  • In case of QuickBooks, effective_tax_rate is the same as total_tax_rate and is the sum of all tax components.
  • In case of Xero, the effective rate can be higher than the sum total. This happens in the compounded tax rate scenarios, where multiple taxes are applied in a sequence and later taxes are applied to amounts that already include earlier taxes.
is_externalboolean

true if this tax rate was fetched from the connected accounting system, or false if it was created manually by the entity.

namestring

The display name of the tax rate.

statusstring
total_tax_rateinteger

Used only in tax rates fetched from accounting systems (is_external=true). Specifies the total (not compounded) tax rate value as the sum of all components. The value is the percentage multiplied by 100. For example, 12.5% is represented as 1250.

For QuickBoooks, total_tax_rate is the same as effective_tax_rate.

Changes

No recorded changes to this operation across all 1 revision of this API.