EventPro Planner Manual

Set Up Taxes

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Set Up Taxes

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Set Up Taxes

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1.Select Setup | Taxes from EventPro Planner’s main menu.

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2.Click the New button in the upper right corner of the screen.
3.The Setup Taxes [New] window appears.

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Click to expand/collapse textEffective Date

Enter the Effective Date.  Assuming that you do not plan to enter details about events prior to the initial setup, you can enter the current date. However, if you do enter events that occurred before you set up EventPro Planner, the date entered here should be a date prior to the earliest event entered in EventPro Planner.

If you are entering a new tax that will take effect at a future date, enter the date on which it is scheduled to come into effect.  Doing so allows EventPro Planner to correctly calculate the taxes charged on future events.
Click to expand/collapse textTax Definition & Naming
1.Enter the Name of each tax or service charge.
2.Check the box to indicate if there are Taxes Charged on Tax, e.g. taxes you must apply to service charges.  If you want to charge a tax or taxes on another tax, select the relevant checkbox(es) to the right, under Taxes Charged on Tax. For example, if you want to charge Tax 1 on Tax 2, select the 1 checkbox to the right of Tax 2.

This concept can get a bit complicated.  Sometimes it is easier to understand when demonstrated with numbers.

Scenario 1

1.Tax 1 Rate = 10%.  Tax 2 Rate = 10%.  Tax 1 is charged on Tax 2. (In the Setup Taxes window, the 1 checkbox to the right of Tax 2 is checked.)
2.Item price = %100.  Total with Taxes = $121
3.Tax Breakdown: Tax 1 = $11. Tax 2 = $10.  To get these numbers, you...
a.Take 10% of $100 as Tax 1, resulting in $10.
b.Then take 10% of $100 as Tax 2, resulting in $10.
c.You then apply Tax 1 on the amount resulting from Tax 2 (10% of $10 is $1) and add it to the amount of Tax 1 to get a total of $11 for the amount charged as Tax 1.

Scenario 2

1.Tax 1 Rate = 10%.  Tax 2 Rate = 20%.  Tax 1 is charged on Tax 2.
2.Item price = $100.
3.Tax 1 = $12 (10% of 100 = 10, plus 10% of 20 from Tax 2 = 2).
4.Tax 2 = $20 (20% of 100).
5.Total plus taxes = $132.00
3.Check the box to indicate whether the tax is Inclusive.
a.If the tax is built into the price, it is Inclusive, and you will check the Inclusive checkbox.
b.If you will add tax to the price, it is not Inclusive and you do not check the Inclusive checkbox.
4.Check the Before Discount checkbox if this tax will be charged on before-discount amounts.
5.In the Abbreviation fields, enter the abbreviated name for the tax, which will appear on EventPro Planner’s various screens.
6.In the Invoice Indicator fields, enter a number or letter identifying each tax.  Invoice indicators are printed on the invoice reports to show the taxes you applied to each detail. Leave these fields blank if you do not want tax indicators to appear on the reports or invoices.
Click to expand/collapse textTax Rates/Accounts/Departments
1.Enter a Tax Rate for each tax you named above. Tax Rates are percentages (e.g. “7” means 7%).
2.From the drop-down lists, select the Account to which the tax belongs.  You created accounts in the General Lookup Tables.  See Step 5: General Lookup Tables, Accounts above.
3.Enter the appropriate Department for each tax, if applicable.
4.When you have entered all the information you need for taxes on this effective date, click Save.