Creating Tax Codes
Either import your tax codes directly from QuickBooks Online or create them manually so that you can quickly add the appropriate tax values to invoices.
⚠️Please note: Tax codes created in Financial Cents cannot be synced back to QuickBooks Online. Rather, create the needed tax codes in QuickBooks Online and then import them into Financial Cents.
Importing from QuickBooks Online
To import tax codes from QuickBooks Online, please do the following:
Go to Settings > Integrations
Locate the QuickBooks Online card and click Manage
In the pop out, click Import tax codes to import your QuickBooks Online tax codes into Financial Cents
Creating Manually
To create tax codes manually, please do the following:
Go to Billing > Settings and select the Tax Codes tab
Click + New tax code in the top right corner of the table
In the pop up that appears, enter in the Tax Code Name and relevant Tax Rates
Once ready, click Create to create the tax code. ❗Please note: Once you create the tax code, you CANNOT edit it, so be sure to double check that the names and rates are correct before saving.
Using Tax Codes
Once your tax codes have been created, you can easily select them when creating an invoice. Within the invoice, once you mark at least one item as taxable, a dropdown will appear with all active tax codes.
Once a tax code is selected, the corresponding rates and their dollar amount will be shown.
Managing Tax Codes
If your firm has a tax code that is no longer accurate/relevant, Owners, Admins, or Members can archive it via the Tax Codes tab on the Billing > Settings page.
If you instead need to make a tax code active again, you can change the filter from "Active Only" to "Archived Only" and click Unarchive on the specific tax code.