Learn more about how your tax obligations influence your workflows in Tradify and how to process financial documents based on your tax situation.
IMPORTANT: This is a guide to using Tradify and is not to be taken as official financial/tax advice. Tradify takes no liability for any decisions made from the information provided here. Please consult your bookkeeper or accountant for advice.
Please note that while this article is explaining GST, the same processes may apply to other tax systems. However, as stated, Tradify recommends you seek independent advice from a qualified professional or your bookkeeper for these questions.
Understanding Tradify and GST (or international tax systems)
If you're looking for more information on Tradify's tax settings, check out Understanding Tax Settings In Tradify.
Tradify allows you the option to either exclude or include GST/VAT/Tax on your price list items. The general guidelines are:
- If you are GST registered, exclude GST from your costs.
- If you are not GST registered, include GST in your costs.
You will see a prompt for this when adding a Price List Item.
Excluding GST from your sell price
If you're GST registered, exclude GST from your buy and sell costs when adding a Price List Item. The markup will automatically apply when pulling items through to invoices.
The line item in both the invoice and the Price List Item modal will show as exclusive but you can see the total in the grey total box.
If you add a markup to your selling price, you're on charging the GST cost to your customer. Your buy cost will pull through and you can either add a Pricing Level or a manual markup to amend your price for GST.
Including GST in your costs
If you're not registered, include GST in your costs and select No Tax in the upper corner of the Invoice Line Items display.