A feature that's necessary for many organizations that have a need to charge a sales tax on certain fees, this has been added in to ASAP. What this allows you to do is to add sales tax to any products and registration fees configured in your time period. To do so, only a few simple steps are necessary.
Configuration to turn on Sales Tax:
First off, you would need to go into your organizations preferences. To do so, go to your left nav panel under Configure > Preferences. From there, you would just need to go to the "Payment And Transaction Configuration" section in order to update this information.
Selecting "Edit" will allow you to update these fields. In my example below, I've set the sales tax to 5%, selected a G/L code, as well as have this tax applied to the "Registration Fee". There is no special field required when configuring the registration fee within the time period in order for the sales tax to apply. This is all done through this page.
Once done, just go ahead and save. You should now be able to have a sales tax applied for the amount set. Here you can see in my example below, the sales tax of 5% added based on the amount of $15 for the registration fee.
Configuration for Products:
Setting up a sales tax for a product is just as simple. As long as the module is turned on, setting up a sales tax is quite simple. First off, if you haven't already done so, you would need to create a product that is eligible for a tax. If you already have one created, just go to the left nav panel under Find > Products. In my example below, I've decided to create a new product:
The most important field is the highlighted area "Is Taxable". Highlighting the help icon, it explains that selecting Yes will make this particular product taxable. The amount that is taxed comes from the number we've entered in when choosing the rate within Configure > Preferences. Once saved, we can now see that the product is also being taxed the 5% that was set above:
- Just to note this tax rate is for the entire organization and not student specific. If a student resides in a different area, they are not charged that area's current rate. They are only charged what the organization has determined.
- Currently, only products and registration fees are the only taxable items in ASAP. We are working to expand this to all fees and will update accordingly.