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Configuring taxes

Version: V7.1.0
Added on: 09/05/18
Time: 30 min
Category: Tutorials

Configuring taxes

  1. Are you ready?

    In this tutorial we are going to learn how to configure and modify taxes that are to be applied to the Canadian merchants associated with a particular portfolio. When configured, the taxes are going to be charged to the amount of the fees collected from the merchants. Every tax has an effective date, which is assigned during the configuration process. The effective date cannot be changed after the tax charging has started.

    We will use the following parameters as an example (these values are used for training purposes within this tutorial only):
    New Tax Rate: 3.50%
    Modified Tax Rate: 4.90%
    Effective Date: 12/07/2023
    State: US New York
  2. Log in to the system using your Username and Password and switch to the Management => Portfolio Perspective.

    Note: To learn how to log in and select perspectives, use the prerequisite tutorial Logging in and navigating the application.
  3. Locate     Portfolio  dropdown and select an appropriate portfolio from the list.
  4. Click   Remittancebutton in the right top section of the screen.
  5. Choose Taxes  menu item  from the list.
  6. Click   New Taxbutton in the opened form.
  7. Locate   General  groupbox.
  8. Enter 3.50 into the Tax Ratetextbox
  9. Select 12/07/2023 in Effective Datedatebox
  10. Select US New York in Statedropdown
  11. Click   Savebutton
  12. Now, let's learn how to modify an existing tax.
  13. Follow the steps 2 to 5.
  14. Locate   Tax List  groupbox
  15. Click   Modify Taxbutton next to the tax that needs to be changed.
  16. Enter 4.90 into the Tax Ratetextbox
  17. Click   Savebutton
  18. Congratulations, you are done!

    You have learned how to configure and modify taxes and now you can do it by yourself.

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Configuring customer fees 04/18/16 30 mins In this tutorial we are going to learn how to set up сustomer Fees.
Configuring annual fees 10/05/17 15 mins This tutorial will teach you how to configure an annual fee.
Configuring merchant charges 03/01/18 30 mins This tutorial will teach you how to configure merchant charges.