How do I handle taxes on my invoices?
In your Harpoon account you'll find a dedicated Taxes screen in your Settings that allows you to create and manage all the different kinds of taxes you’re responsible to collect on your invoices.
Here you have the freedom to create as many tax types as you need (e.g. VAT, GST, PST, HST, etc.), including the name, rate, and optional ID for each tax. The global taxes you create here in your Settings will now show up as available options on your invoices. When creating or editing an invoice you’ll notice a Tax dropdown menu that’s available on every line item of your invoice.
The Tax dropdown menu gives you the freedom to apply as many tax types as necessary to each line item, allowing a different combination of taxes on a per line item basis. And as you apply these taxes you’ll see the applicable amount for each tax displayed in the subtotal area of your invoice.
Tax Summary Report
With all of these taxes being collected on your invoices you’re going to need a simple way to summarize and share this tax data with your accountant. For that we’ve provided a Tax Summary report.
The Tax Summary report will list every tax applied in your Harpoon account (for both invoices and expenses) within a selected date range.
For each tax applied the report will provide the total Taxable Amount of both the invoice payments you’ve collected and the expenses you’ve recorded, and the Net difference between the two. The report will also provide the total amount of Taxes for those same invoices and expenses on a per tax basis, and the Net difference between the two.