Setting up tax codes
Looking for help with this feature in Polaris PSA or Polaris PPM? Check out Setting up tax codes in the Polaris help.
Tax codes define tax formulas for the different types of tax that may be applied to expense items. This tax formula is used to calculate the gross amount (total expense amount, including taxes) if the user enters a net (pre-tax) amount for an expense. A tax code must be associated with expense codes to which taxes apply.
If a user enters the gross amount of an expense, Replicon will use the Gross to Net formula associated with the expense code to calculate the net amount of the expense.
Taxes can be either rated (the tax is a percentage of the net amount) or a flat tax (the tax is a flat amount added to the net amount).
Adding a tax code
To add a tax code:
- Go to Administration > Expenses > Tax Codes.
- Click Add Tax Code.
- Give the tax code a name, and enter its formula.
- Click Save.
Creating a tax formula
Tax formulas may include the operators given in the table below.
|
Operator |
Description |
|---|---|
|
+ |
Add |
|
- |
Subtract |
|
* |
Multiply |
|
/ |
Divide |
|
() |
Indicate precedence |
|
$Net |
Tag for the gross amount, which will be used to calculate net amount |
Example 1
The formula for a 7% state sales tax would be entered as follows:
$Net * 0.07
Example 2
The formula for a flat tax (such as airport tax) would be entered as follows:
10.00
FAQs
Should we include a currency symbol in formulas?
No, don’t include a currency symbol. The net amount will display in the currency used for the expense.
What if the formula for a tax code we use differs depending on the expense code it’s assigned to?
Tax code formulas can be customized for use with specific expense codes by editing the formula on the Expense Codes page. The original formula for that tax code will remain unchanged.
Related links
How expenses work
Expense tracking setup checklist
Setting up expenses (video)
Setting up expense templates
Choosing which columns are available on expense sheets
