By navigating to the tax settings section within the Payments tab of your CRM, you can effortlessly add and manage taxes. This area allows you to create various taxes that will be applied to your payment invoices, ensuring accurate billing for your clients. Having a centralised location for managing taxes in your CRM not only simplifies the invoicing process, but also helps maintain compliance with tax regulations and requirements.
Tax settings
Tax Table Information
Looking at your tax settings page, you will see a list of all the taxes previously created in your CRM. Within the list, you will notice 5 columns with related identifiers.
Tax Name
On the far right you will see the name you have given to the Tax such as Sales Tax or Use Tax, District Tax for a specific State, etc.
Tax name
Tax Rate
Here you will see the Tax rate you have specified for the selected Tax such as 7.25%, etc.
Tax rate
Tax Description
The information you have provided for each tax will be shown here. Here is an example of Tax Description; statewide sales and use tax is 7.25%, which includes 1.25 percent of local taxes (1.00 percent Local Jurisdiction and . 25 percent Local Transportation Fund).
Tax description
Tax ID Number
This is the number you have given to the specific tax created in the system. If you haven't given any ID to a specific tax from the list then this field will appear blank.
Tax ID number
Created At
The date and time when you created the Tax will be shown here.
Date and time a tax was creat
ed
Deleting Tax
Use this tab to delete one of the taxes you have created. Go to the Action menu of the tax to find the "Delete" option which will allow you to delete a specific Tax from the list of Taxes you have created inside of your CRM. This will only delete one Tax at a time so all of the other Taxes from the list will not get affected if you click "Delete' on one of the Taxes from the list.
Deleting tax
Adding a New Tax
This feature will be used when creating a new tax entry that is expected to be used in your payment invoices. As shown below, click on the "Add Tax" option and enter the information as per your specific goal.
Add tax
Tax Info
Name
Type in the name for this tax here
Rate
Type in the tax rate here.
Description
Give a brief description of the tax here.
Tax ID Number
Type in the Tax Id number here.
Cancel or Add You can either cancel the update you made or save it by clicking either of these buttons.
Tax info