Onit's Tax Validations feature allows users to easily upload tax code information from different regions and countries, making it easy to calculate additional taxes on invoices.
In this guide, we will take you step-by-step through using the Tax Validation feature from Onit.
SETUP NOTE: An Onit implementation specialist will enable Tax Validation on the BillingPoint invoice settings before you can use the feature.
Using Tax Validations
1. Open the Tax Settings application and click on Tax Settings Record.
2. Fill in the name in the Tax Code.
3. Fill in a Description of the Tax Code.
4. Fill in the Jurisdiction Description of the country this tax code corresponds to. You'll see the Jurisdiction Code is automatically filled in.
5. Fill in the Tax Rate.
6. Set the Effective Date (when the code should start) and the Expiration Date (when it should end). If there is no set end date, select a date multiple years in the future; the end date can be edited when needed.
8. Click on Create Tax Code to create the code.
You'll see the tax code(s) show up at the bottom of the Tax Settings Record screen.
A note: you can also use Excel to upload tax codes in bulk.
To do this, create at least one tax code manually and then click Download on the top right of the page.
Click on Download Tax Codes.
You'll get an Excel spreadsheet with the columns and any information you've entered filled in.
When creating a manual invoice on BillingPoint, users can use the Tax Code field in both the line-item and invoice-level areas to add the validated tax code onto the invoice calculations. Submitted taxes are validated against the Bill To Legal Entity. Below are the validation checkpoints:
- Tax Jurisdiction matches the jurisdiction of the Bill To Legal Entity
- Tax Rate matches the tax rate of the tax code in use
