Setting Up and Managing Taxes

Our new tax system allows you to create and manage tax rates, assign them to items, and generate updated tax reports. This guide explains how to set up tax rates and apply them effectively.

To start, go to your Home drop down menu > Settings > Financial.

Setting a Default Location Tax Rate

1. In the Location Tax Rate section, enter the default tax rate for your city, county, or municipality (e.g., 8.375%).
2. Click Save.
3. This default rate will apply to all taxable items unless overridden by specific item-level tax rates that you can set individually.
4. Remember that any time you change this Location Tax Rate, it will adjust for everything that is on that default rate. The only things it would not apply to are things that you set at a different rate or exempt.

Overriding Default Tax Rates

You can assign specific tax rates to certain items:

1. Under Additional Tax Rates, create a new rate or edit an existing one.
2. Assign the custom tax rate to applicable items in your product or item settings.
3. These rates will override the default location tax rate for those items only.

Applying Taxes to Items

If necessary, you can further customize tax rates in Items.

Start with System Items:

1. When editing an item, select the appropriate tax rate from the dropdown menu.
2. The system will automatically calculate taxes for all items that fall under that item Type based on the assigned rate.

Finally, you can also customize individual item tax rates if need be in Your Items.

You can access your Sales Tax Report two ways:

1. You can type Sales Tax Report in to your Gym Insight Search Bar.
2. You can go to Reports in your Home drop down menu > choose Financial > Sales Tax Report.