Tax rate is a percentage of an amount or value that needs to be paid in tax. The tax rates in Geo can be customised to reflect your local tax. Setting up tax rates in Geo is a pre-requisite to creating Billables.
Billables in Geo are Parts and Charges that can be set up based on the list of chargeable items required by a business. To set up Billables, refer to: How to Create/Edit/Delete Billables - Console
How to add a custom tax rate?
There are four default tax rates set up in Geo:
- 10% Tax
- 15% Tax
- 20% Tax
- No Tax
To add a custom tax rate, go to SETTINGS by selecting the drop down arrow next to the profile picture in the top right hand corner of the screen. Choose TAX in settings and click 'Add custom tax rate' under TAX RATES.
The fields show where you can enter a custom Tax Name and Tax % Rate. Once done, hit '✓' in the top right hand corner of the screen to save the changes.
This is important as your changes will not be saved if you do not click this.
When a custom tax rate is added, it shows as an additional option on the Charges and Parts drop down list under TAX.
How to customise invoicing options?
On the TAX screen in SETTINGS, click the pencil icon in the furthest top right hand side corner to edit custom tax on Charges and Parts.
When the drop down field is clicked, you are allowed to choose one tax rate for Charges and one for Parts. Once done, hit '✓' in the top right hand corner of the screen to save the changes, this is important as your changes will not be saved if you do not click this.
What is Tax Inclusive in SETTINGS?
If Tax Inclusive is ticked in the Settings section - then the Tax will included in the Sale price.
- For example, Sale price is $10, and Tax is 10% then unit price will be $10 - because tax is included in the Sale price.
If Tax Inclusive is not ticked in the Settings section - then the Tax will be added to the Sale price
- For example, Sale is $10, and Tax is 10% then unit price will be $11 - because the Sale price exclusive of tax, ie does not include tax.