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< Expenses

How do Taxes on my Expenses work?

When creating an expense, the system will automatically calculate taxes for you based on the total amount you paid.

  1. Create the Expense using the New Expense button, or the edit link for an existing Expense
  2. In the Amount field, enter the full amount paid including taxes
  3. If you paid tax on this item, check off the Taxes box and choose from the drop-down menu a tax that was paid
  4. The system will calculate the value you paid in tax for that Expense

Here’s a sample tax situation:

You paid $113.00 in gas (including tax) while driving around the city being awesome for your company.

  1. Enter $113 into the first required Amount
  2. Choose a Tax. In this case it is HST = 13%.
  3. The system will calculate that you paid $13.00 in Tax to make the total $113.
  4. Taxes you paid on Expenses are included in your Tax Summary
Taxes_on_Expense

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