Tax Schedules in Series25 Pricing

Click here to view related articles.
Learn More About Series25 Pricing
Pricing Introduction
Basic Components
Brainstorming Your Pricing Needs
Rate Groups
Tax Schedules
Rate Schedules
Formula Variables
Formula Examples
25Live Accounting Introduction
Preparing Your Environment
Exporting Invoices

Tax schedules add extra fees to a line item on an invoice as a percentage of its value. By setting up multiple tax schedules, you can customize different rates based on the items included and the customers being billed.

Tax schedules can have multiple effective dates, so you can build in known tax increases ahead of time.

Once you've created a new tax schedule, it won't be immediately applied. You'll need to link it with specific rate schedules to see the effects. For example, you can choose to link a room tax with all your location rate schedules or a food tax with just your resource rate schedules that represent catering.

Adding and Editing Tax Schedules

  1. In 25Live, use the More menu to navigate to System Settings > Pricing Setting > Pricing Set-Ups > Tax Schedules.
  2. Select the Add Tax Schedule button.
    Add Tax Schedule buttonImage: Create a new Tax Schedule under System Settings > Pricing Settings > Pricing Set-Ups > Tax Schedules.
  3. Enter a name for the tax schedule in the Name field.
  4. Click New Rate 
    • Enter a percentage value for the Tax Rate and a Start Date for this rate.
    • If you know the tax rate will change in the future, repeat this step to add a new rate and the date it should be effective.
  5. Select the Rate Groups dropdown and tick the checkboxes of the rate groups that will be responsible for paying this tax. If you have any tax-exempt groups, leave them unselected. Click Done.
  6. Click Save. A message will display confirming your success.
    New Tax Schedule formImage: Create Tax Schedule form
  7. If you need to change any details of a tax schedule later on (such as adding a new rate) use the Select a Tax Schedule dropdown at the top of the form, make your changes, and save.

Video Walkthrough

Watch Andrea demonstrate how to set up your tax schedules in this short video.

PREVIOUS: Rate Groups
UP NEXT: Rate Schedules