How to Customize the Tax Settings in Your Payments Section

How to Customize the Tax Settings in Your Payments Section

Advisor's Growth has introduced a new layout in the invoicing system, making tax management easier and more streamlined. With this update, taxes are now displayed in a dedicated column that shows the cumulative total, and a detailed breakdown is available in the order summary. This applies across the platform, including the invoice builder, template builder, and invoice previews, ensuring consistency.

Here’s a step-by-step guide to customizing tax settings:

Step 1: Accessing the Invoices

• Navigate to the Payments Tab: Go to the Payments section and click on Invoices. You can either create a new invoice or edit an existing one.

• View the Tax Column: In the invoice editor, you’ll notice a new tax column displaying the total tax amount for each item.

• Create Taxes: To add taxes, navigate to the Settings tab within the Payments section.

Step 2: Detailed Breakdown of Taxes

• Order Summary: In the Order Summary section, you'll find a detailed breakdown of how taxes were calculated for the invoice.

• Tooltips for Tax Details: Hover over the tax amounts in the order summary to view tooltips that provide further details on the applied taxes.

Step 3: Viewing Taxes on Mobile

• Mobile View Enhancements: The new layout is optimized for mobile devices, displaying tax details on a single line for better readability. You can also view the detailed breakdown of taxes in the Order Summary from your mobile device.

Step 4: Applying Taxes to Products

• Product Configuration: When configuring products, select the option to "Charge Tax on This Product" and choose the appropriate tax rates from the drop-down menu.

Step 5: Viewing Taxes on Invoices and Order Forms

• Organized Tax Display: When adding products to an invoice or order form, the selected tax rates will automatically be included. The tax column shows the cumulative total, enhancing user experience.

Step 6: Adjustments and Deletions

• Updating Tax Rates: If tax rates change, simply update the tax settings, and all associated products will reflect the new rates automatically.

• Deleting Tax Rates: Removing a tax rate will ensure it's no longer applied to products where it was previously assigned.

Step 7: Example of Applying Taxes in Funnels

• Adding Taxed Products to Funnels: Go to the Funnels section and select the desired funnel. Add the taxed product, fill out any necessary fields, and proceed to the next step. The added taxes will be shown next to the product price, displaying both the percentage and the calculated tax amount.

Automatic Tax Calculation for Business Users

Business users can now automatically calculate taxes for their customers based on their address information during checkout. This applies to transactions made through order forms, online stores, invoices, and payment links.

Key Details:

• Address Requirement: Automatic tax calculation requires address information during checkout. Ensure the address fields are enabled.

• Availability: This feature is available for sellers in the US. International sellers will need to apply manual tax rates.

How to Enable Automatic Tax Calculations

1. Go to Payments > Settings > Taxes.

2. Enable the Automatic Tax Calculation option.

3. Select the nexus states where you want to collect taxes.

4. Set a default tax category for your products, or specify tax categories for individual products when creating or editing them.

By following these steps, you can effectively manage and customize your tax settings, ensuring accuracy and compliance in all your transactions.