Your software includes the ability to easily add, enable, disable, and delete multiple tax rates. Having the ability to quickly apply tax rates to multiple facilities at once simplifies updating your software as tax codes change. Tax Rates can be added to a unit or group of units, insurance(s), service(s), fees, miscellaneous item(s), or retail item(s).
This article will instruct you on:
- Understanding your tax rate settings
- Updating tax types
- Editing tax rates
- Applying tax rates
Understanding your tax rate settings
Your tax rate settings are within the Corporate section of your software. You’ll find your Tax Rates in your Software Settings under the Billing heading.
You’ll notice two tabs in your Tax Rate settings:
The Tax Rates tab lists your facilities and displays the tax types that are in use for each facility, along with the tax rate that is enabled for each type.
The Tax Types tab shows you the different types of tax rates you have set up for your company. The In Use? column displays a Yes for tax types that are in use and No for tax types that are not currently being used. If a tax rate is not being used, a Delete button will be enabled in the far right column.
Updating Tax Types
To add a new tax rate, you must first ensure that you have an appropriate tax type setup for the new rate. Access your Tax Types tab, and if the tax type you need to enact doesn’t exist, click + Add new tax type. Type the name of the new tax type into the field that opens, and click Save.
Editing Tax Rates
You can adjust tax rates for just one facility or for multiple facilities at a time. Adjusting tax rates for multiple facilities is a time-saving method if you have several facilities that need the same tax rate added or adjusted.
Updating tax rates for one facility
Select the facility that needs to be updated and click the Edit Rates button.
From here, you can disable any existing taxes by clicking the Disable button next to it. To edit an existing tax rate:
- Select a tax type from the dropdown.
- Enter a description of the tax rate. It is typical to have the same description in this field as the tax type.
- Enter the new rate. Example: If the rate is 10%, enter 10 in this field.
- Select the appropriate account code from the dropdown.
- Click Update Facilities.
Note: You can learn more about account codes on our help site.
Updating tax rates for multiple facilities
To update tax rates for multiple facilities at once, access your Tax Rates tab and select the facilities you’d like to update. Then, click Edit Rates.
Next, select the tax type you’d like to edit, and follow the same process as you would if you were updating one facility.
If the facilities you’re editing don’t have the same existing tax rate for the type you selected, you’ll see a message reminding you that the facilities’ tax rates don’t currently match for this type. If the rate you’re entering is the current tax rate for that type for all the facilities you’ve selected, you can proceed to enter the tax rate and select the appropriate account code. Then, click Update Facilities.
Note: When updating tax rates for multiple facilities, you’ll need to be mindful of your facilities’ locations. If you are updating a local tax for facilities that are not in the same city or state, ensure that they do in fact have the same tax rate because the same rate will be applied to all facilities.
Applying tax rates
To apply tax to a unit: Once you've added a new tax rate for rent, navigate to your facility’s Settings tab, click on Units, and select Edit for the units that require the tax. Scroll down to the bottom of the unit page and check the box next to the appropriate tax rate. Click Save.
To apply tax to a retail item: Once you've added a new tax rate for retail items, navigate to your facility’s Settings tab and select Retail Items. Click Edit for the items that require the tax, and check the box next to appropriate tax rate. Click Save.