How to add taxes to your Timely account

Every business will have its own requirements for recording tax. In Timely you can add taxes to your account, which can be applied to services, classes, products, packages and discounts.

Important information

  • Timely will automatically calculate the tax contribution for each item on your invoices, based on the default tax rate. Services and products can be added to Timely as either Tax inclusive or Tax exclusive:
    • When a price is Tax inclusive we will set the listed price as the Total and work out the Unit price as the Total, less tax.
    • When a price is Tax exclusive the price listed will become the Unit price and we will add the tax on top of that.
  • You can set up one tax rate for all of your services and products, or assign different tax codes to your products and services individually.
  • Only one tax rate can be applied to an invoice item at a time. 
  • When it comes time to raise an invoice, the tax type will be shown next to the invoice item in the Tax column. The invoice will also show how much tax is included on the entire invoice:

Can’t see these tax options in your account? Sales and invoicing is available on our Schedule and Sell plan. To upgrade to this plan, check out our How to change your Timely plan guide.


Add new tax rates

To add new tax rates to your account:

  1. Head to Setup > Invoices & Taxes.
  2. Scroll down to the Taxes section.
  3. Click the green [+] button to add a new tax type: 

  4. Enter the name and the rate in the fields provided: 

  5. Click Save to add this tax type.

Apply a tax code to all of your services

If you only have one tax code, or you aren't registered to pay tax, then you can apply a tax code to all of your services, products and discounts.

Underneath the  Override all of your services, classes, discounts, products and packages with one tax rate: heading, select the rate from the field provided and click Apply:


You also have the option to apply a tax code directly to an individual service, product and/or discount:

1

Apply tax to a Service

  1. Head to Setup > Services.
  2. Edit a particular service.
  3. Under the Details heading, choose a tax rate from the drop down list.

  4. Check the Price includes tax box if you want the tax to be inclusive (i.e., included in the price rather than added to it).
  5. Click Save to apply any changes.

2

Apply tax to a Product

  1. Head to Setup > Products.
  2. Edit a particular product.
  3. Under the Details heading, choose a tax rate from the drop down list.
  4. Check the Price includes tax box if you want the tax to be inclusive (i.e., included in the price rather than added to it).
  5. Click Save to apply any changes.

3

Apply tax to a Class

  1. Head to Setup > Classes.
  2. Edit a particular class.
  3. Under the Details heading, choose a tax rate from the drop down list.

  4. Check the Price includes tax box if you want the tax to be inclusive (i.e., included in the price rather than added to it).
  5. Click Save to apply any changes.

Still need help? Get in touch with the Support Team Get in touch with the Support Team