Switching to new gallery management software is a big decision. As you're exploring various...
ArtCloud Feature: Manage and Report on Multiple Tax Rates
In honor of tax season, we have released some great new updates that are sure to make your accountant happy! When it comes time to pay the tax man at the end of each month, you'll know exactly how much you owe, broken down by tax rate. So put away your calculators and ditch the spreadsheets, ArtCloud Manager is about to make paying taxes a breeze!
Manage tax rates for each business location
Depending on where your business operates and where your clients live, you may need to include one or more tax rates on a single invoice. Some municipalities have state sales tax, county tax and even city or local taxes.
Keep track of applicable taxes in the Account Settings of your ArtCloud Manager account, where you can also set a default tax rate for each of your business locations. When creating an invoice associated with a particular location, you'll be able to add any of the active tax rates.
Pro Tip: Not sure what taxes you need to charge? Be sure to consult a tax professional or your local department of revenue for assistance. While we know about a lot of things at ArtCloud, we are not tax professionals!
Pull reports by location and tax rate
While itemizing out tax rates on an invoice is helpful for your clients and a necessary business practice, the real benefit comes in being able to quickly pull a report showing you how much you owe in taxes. No more manually calculating up lists of sales and triple-checking your work for errors!
Simply head over to your Analytics and look for the new Taxes report. For the date range you select, you'll see a total amount of sales and a total amount of taxes owed. From there, you can filter by location and see the total amount owed by tax rate.
You can then export your tax reports in CSV or PDF format and hand it off to your accountant with confidence!
Setting up your tax rates takes just a minute
At ArtCloud we like making things easy, and setting up your tax rates tax just a minute. To get started, head over to your Account Settings. Then you can start accurately and efficiently capturing your tax data.
Want to learn more about how ArtCloud Manager can help your business operate efficiently, so you can spend more time on the things that really matter? Set up a personalized demo today.