New Features: Invoicing for Dual Taxation and More

Written by Bill4Time Staff in Accounting, Blog, Small Business, What's New
April 26, 2011:

Dual Taxation Feature

Bill4Time has now released an additional invoicing feature: dual taxation. This is particularly helpful for those countries that require businesses to include a secondary tax to their services, such as the Canadian Goods and Services Tax/Harmonized Sales Tax (GST/HST). Now Bill4Time makes it even easier to invoice!

Just go to Settings at the top right corner, click on the Invoice Setup tab, and you’ll see this:

Dual Tax Settings for Invoicing

After you click the Edit button, you can edit the settings.




Using the Dual Tax Feature for Invoicing

Cumulative or Separate Tax Feature

The second tax basis can be either exclude or include the first tax. The “Excludes Tax” setting makes it a separate tax and bases it upon the invoice total before taxes. The “Includes Tax” setting makes it a cumulative tax and bases it upon the invoice total plus the amount yielded by the first tax.

In the Firm/System Settings, you can change the mnemonic for both taxes. This will be reflected in invoices, statements, and reports.

Secondary Tax Mnemonic for Invoicing

Faster Upload Time

The page loading speed has improved across the entire system. Companies with a large amount of client, accounting, and invoicing data will especially notice the improved upload time.

Written by Bill4Time Staff

One response to “New Features: Invoicing for Dual Taxation and More”

  1. […] that integrates with QuickBooks Online. It also accommodates for late fees and our newly-released second tax feature. Currently, this is only available for PC […]

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