Some contractors may be required to caculate and print taxes on the estimates provided to their customers. Some contractors may decide for competitive reasons to simply include mentioning that "Taxes will be billed separately" within their terms and conditions.
- Automatically calculate the tax for an estimate if a Tax Percentage is included at the Estimate Level.
- Optionally print the tax for an estimate if it is selected on the Print Display. In other words, you can have a $1,000 job with a 6% tax rate making the estimate total including taxes equal $1,060. Only if the display option includes taxes will the total say $1,060. If the display option is unchecked, then the total will say $1,000.
- Allow you to override the tax percentage on any estimate and this override would then carry through to the invoice.
- Automatically calculate the tax for an invoice and automatically print the tax amount on the invoice. There is no way to eliminate the displaying of calculate tax amounts.
Taxes originate in your Company Defaults by selecting the following option:
Then go to the Tax section
For example, you can change the Company Service Tax rate to 6% by changing the defaults as shown
Another decision is whether you wish for these tax amounts to automatically display on Estimates. Some locations may have a particular legal issue associated with this but MyOnlineToolbox allows the flexibility for how a contractor wants to address the topic. If you want the tax calculation to display on all estimates then just select the Tax option as shown
Then remember to
Keep in mind the above defaults, both the percentage as well as the display options will automatically be placed on every new estimated created. However, you can override anything on an estimate by estimate basis. So for example, perhaps you are competing on a particular job and just do not want to display the tax amount on the estimate (knowing full well you are absorbing whatever liability in order to secure the job). The tax amount will still be calculated in the total but it will not display if you simply uncheck the Display Taxes option once you are in the actual estimate as follows
Remember, the tax amount will still be calculated and shown on the data entry screen but it just will not be printed as shown below