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How to add taxes to your Timely account

  • Updated

If you're registered to pay tax with your local authority, then you can collect tax on your products and services in Timely.

You can apply taxes to services, classes, products, packages and discounts. These can be applied individually, or you can apply a single tax code to all of your items.

In this guide we'll show you how to:

  1. Create a new tax.
  2. Apply tax to your items in bulk.
  3. Apply tax to individual items.
  4. Use tax with add on integrations.
  5. Common questions about tax.
 This feature may not be available on your current plan. Find out how to upgrade in our How to change your Timely plan guide.

 

Create a new tax

To add new tax rates to your account:

  1. Head to Setup > Sales settings.
  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 tax to your items in bulk

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.

 By default, your products and services will be set to Price includes tax. If you'd like to add tax on top of the listed price, you'll need to update the items directly.
  1. From the Setup > Sales settings page, scroll down to the Taxes section (Take me there).
  2. Underneath the Override all of your services, classes, discounts, products and packages with one tax rate heading; select the rate from the field provided:

  3.  Click the Apply button next to the field: 

  4. Click Save to apply your changes. The Usage column will be updated.

Apply tax to individual items

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

Apply tax to a Service

  1. Head to Setup > Services and click Edit on the service you'd like to update.
  2. Under the Details heading, choose a Tax rate from the drop down list: 

  3. 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).
  4. Click Save to apply any changes.

Apply tax to a Product

  1. Head to Setup > Products and click Edit on the product you'd like to update.
  2. Under the Details heading, choose a tax rate from the drop down list: 

  3. 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).
  4. Click Save to apply any changes.

Apply tax to a Class

 Classes are no longer available in Timely.

If your account was created after the 1st of September, or you haven’t used classes in your account before then, you will no longer be able to access or use this feature. If you have already have classes in your account, you will be able to continue using them.

  1. Head to Setup > Classes and click Edit on the class you'd like to update.
  2. Under the Details heading, choose a Tax rate from the drop down list: 

  3. 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).
  4. Click Save to apply any changes.

Apply tax to a Package

  1. Head to Setup > Packages and click Edit on the package you'd like to update.
  2. Under the Details heading, choose a Tax rate from the drop down list: 

  3. 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).
  4. Click Save to apply any changes.

Apply tax to a Discount

 If you have multiple tax codes or have some items that are tax-free, then we recommend not applying tax to your discounts.
  1. Head to Setup > Discounts and click Edit next to the discount you'd like to update.
  2. Select a Tax rate from the drop down list: 

  3. Click Save to apply any changes.

Use tax with add on integrations

If you are using any of the following add on integrations, you will need to import and use tax codes from that specific integration. We've included a link to the relevant guide with more information:

Common questions about tax

How is tax calculated on sales?

When you raise a sale, we will automatically calculate the tax contribution for each item, based on the tax rate you set for that item. You can set a listed service or product price as  Tax inclusive or Tax exclusive.

  • When a price is Tax inclusive we will set the service/product price you've entered as the Total and calculate the Unit price ("Unit price" = "Total price" - "Tax rate").
  • When a price is Tax exclusive we will set the service/product price you've entered as the Unit price. We will add the tax to the Unit price to calculate the Total ("Unit price" x "Tax rate" = "Total")

When viewing a sale, you can see which tax code is applied in the Tax column. The total tax collected will be shown on the "Includes tax of" line:

Can I add multiple taxes to an item?

While it's possible to add multiple taxes to your account, you can only apply one tax code to each item. If you live in a country/region where multiple tax codes are required, we recommend adding the secondary tax to the sale as a product. You would need to manually set the product value in each sale accordingly.

Can I remove tax on a specific sale?

Tax is applied to items directly, so it isn't possible to remove tax on a specific sale. If you offer your services/products in both taxed and tax-free circumstances, we recommend having a second list of services/products; one with tax and one without.

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