Taxes are part of doing business, no matter the industry. They are one of the most important things in your finances. This is why efficiently managing them is crucial. One way to do it is by adding them directly to your products or invoices. This helps you stay organized, follow the rules, and make sure your finances are in order. 

How to Manage Taxes in your CRM

You can manage your taxes by adding them to products or invoices directly, keeping a record to follow with every sale. How to add them depends on the type of Tax you need to add, but to start go to the Settings tab inside the Payments section and select the Taxes option to your left.

Include Tax in Prices

You can now specify whether product prices are tax-inclusive or tax-exclusive to ensure the right tax convention is followed. This can be set globally or on a product level.

To set the tax on a Global Level, go to Payments > Settings > Taxes, and select Tax Inclusive or Tax Exclusive by answering “Yes” or “No” to the question "Include tax in prices". If no selection is made, Tax Exclusive is the default setting.

Manual Taxes

This gives you the option to create taxes on non-standardized products or businesses outside the US. To do so, click on +Add Tax.

A pop-up window will open for you to add the tax information, you need to add the name and percentage for the tax, and you can also add any extra information. Once completely filled out click Add to save it to your system.

Automatic Taxes

This feature automatically calculates sales tax based on the customer's address, it is designed for businesses inside the US. To add them first toggle Enable automatic sales tax, then select the category of your product for the tax percentage. 

Then select the States you do business with, check the box to accept the Terms of Use, and click Save.

Adding Taxes to Invoices

Once your taxes have been created you can start adding them to your Invoices by clicking on Add Tax to add manual taxes or toggling automatic taxes. Adding them this way will tax all products in the invoice.

📌NOTE: Automatic taxes require contact information for the country, state, and postal code.

To add taxes to a specific product click Add Tax on the left side editor, within the Add Products dropdown.

This will open a menu for you to select from your added taxes. Adding Tax Manually allows you to add different tax rates for each product, Automatic taxes however are applied to the entire invoice. Once you do click on save to set it.

Finish your Invoice as normal, and you're done. Now, you can keep track of your taxes directly from your CRM, lowering the load on you and your accountant.

Important Note

Existing products are by default set to the global tax settings but can be changed for different products to have independent tax settings. New products will also follow global settings but this can be adjusted as needed during or after creation. This flexibility allows you to manage tax preferences in a way that fits your business's needs.