Adjusting tax on transactions

Find out how to set up and change your default tax rate and how to generate tax free transactions

Lauren Hose avatar
Written by Lauren Hose
Updated over a week ago

In this article we’ll find out how to set up or change the default tax rate for transactions, as well as how to adjust this on a per-transaction basis, including the ability to create tax free transactions.

Adjusting the default tax rate

To adjust your default tax rate for transactions:

  1. Go to the Club module

  2. Open the Details card

  3. Click on the Finance tab

  4. Adjust your tax details as needed

  5. Press Save to confirm your changes

Going forward, this will be the new tax rate that is applied to all new transactions.

Adjusting the tax rate per transaction

If you need to adjust the tax rate of a specific transaction, for example to make it a tax free transaction, you can do that as follows:

  1. Create a new transaction or edit an existing transaction

  2. In the box for the tax percentage, adjust the percentage as needed

  3. Note that this box will have the same name as your selected tax type

  4. Press Save to confirm your changes

This transaction will now have its custom tax rate.

Frequently asked questions

Are transaction amounts tax exclusive or tax inclusive?

At the moment, all transaction amounts in Hello Club are treated as tax inclusive. The tax percentage is used to calculate the tax component of each transaction and display this on downloaded PDF invoices.

Can we set up several different tax rates?

At the moment it is not possible to set up multiple different tax rates. We recommend calculating the total combined tax rate and setting this as your default tax rate.

What happens if our tax rate changes over time?

Any old transactions will still have the old tax rate stored in them. The new tax rate will apply from the day that you change your tax rate over. If needed, you can manually adjust the tax rate for some transactions that were created with an incorrect tax rate.

Further reading

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