The Tax Settings section of Time59 allows users to control settings for calculating taxes.
There are three options.
None - All tax features of Time59 will be turned off.
Manual - Will allow a tax amount and tax description to be specified when creating an invoice. Tax amount will need to be calculated manually.
Automatic - Provides automatic tax amount calculation for an invoice. Tax amount will be based on a tax rate percent applied to any items on the invoice which are designated as taxable.
The following items in this help topic cover the additional settings required for the Automatic tax method.
If you want to calculate tax for Time records then select either "Yes (Default Yes)" or "Yes (Default No)". With both of these options the Taxable check box for Time records will be displayed. With "Default Yes" the check box will be automatically checked for new Time records.
If you do not want to calculate tax for Time then select "No" and the Taxable check box on Time records will not be displayed and Time records cannot be designated as taxable.
If you want to calculate tax for Expense records then select either "Yes (Default Yes)" or "Yes (Default No)". With both of these options the Taxable check box for Expense records will be displayed. With "Default Yes" the check box will be automatically checked for new Expense records.
If you do not want to calculate tax for Expenses then select "No" and the Taxable check box on Expense records will not be displayed and Expense records cannot be designated as taxable.
If you want to calculate tax for Flat Rate Charges then select either "Yes (Default Yes)" or "Yes (Default No)". With both of these options the Taxable check box for Flat Rate Charges will be displayed. With "Default Yes" the check box will be automatically checked for Flat Rate Charges.
If you do not want to calculate tax for Flat Rate Charges then select "No" and the Taxable check box on Flat Rate Charges will not be displayed and Flat Rate Charges cannot be designated as taxable.
Enter the description of the tax item that will appear on invoices. You will be able to change this description as needed when creating an invoice.
Enter the tax rate as a percent value that will be used for calculating tax on an invoice. You will be able to change this value as needed when creating an invoice.
If you want the pre-tax subtotal amount of the invoice to be displayed just before the tax amount line item on the invoice select "Yes". If you don't want this subtotal line on the invoice and want to have just the Tax Amount line item be displayed select "No".
You may contact us using the Feedback form or at support@time59.com.