Charging Sales Tax

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Wodify_Bar_All.pngWith Wodify you are able to configure two out-of-the-box Tax Rates: Products and Services/Membership. Adding a New Service? You can also create your own specific tax rates. 

 

In this article, we will cover:

 


Configure your Default Products and Services/Memberships Tax Rate

Follow these steps when setting up your tax rates for the first time. 

To configure tax rates:

  1. Go to Financial > Settings
  2. Within the Invoice Configuration tab > Scroll down to view Tax Rate
  3. Click into the Products or Services/Memberships Tax Rate field to add your tax rate %
  4. Click the check-mark to Save

    2021-01-27_17-19-08.png

 

Note: For products, be sure to go into each individual product and save the tax rate for that product!

 

How to Update an Existing Tax Rate

Because tax rates can change over time, you are able to update your existing tax rate percentages with just a few clicks. Changes to your Products or Services/Memberships tax rates can affect existing clients so please be sure to take your time and read all in-app messaging.


To update existing tax rates:

  1. Go to Financial > Settings
  2. Within the Invoice Configuration tab > Scroll down to view Tax Rate
  3. Click into the Products or Services/Memberships Tax Rate field to edit your tax rate percentage

    2021-01-27_17-19-08.png
  4. Click the check-mark
    • For Products or Services, you will be prompted to select What should your tax rate change affect? 
      • All existing and new unpaid invoices will use the updated tax rate
      • Only new invoices will use the updated tax rate
    • For Services/Memberships, you will be prompted to select What should your tax rate change affect? 
      • All existing and new membership templates, existing memberships, unpaid membership invoices, and unpaid invoices will use the updated tax rate.
      • Only new membership templates, memberships, and invoices will use the updated tax rate.
  5. Click Save

Note: Any changes to Tax Rates that are currently applied to Unpaid non-membership invoices will automatically be updated to your new rate.

 

How to add a New Custom Tax Rate

Adding an entirely new service? Follow these steps to create a separate Tax Rate. 

To add a new Tax Rate:

  1. Go to Financial > Settings
  2. Within the Invoice Configuration tab > Scroll down to view Tax Rate
  3. Click + Add new Tax

    2021-01-27_17-39-42.png
  4. Add the Tax Rate Name and Tax Rate %
  5. Click the check-mark to Save

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More Information:

TIP: Wodify Blueprint Course - Increase revenue with automated billing

If you need any additional assistance with Charging Sales Tax, feel free to reach out to us at support@wodify.com.

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