Set up your tax policies for accurate billing, smooth processing, and effortless compliance.
Properly setting up taxes in Fynlo helps ensure that your financial documents reflect the correct tax amounts, whether you're handling VAT, sales tax, or self-employment tax. Once configured, taxes can be seamlessly applied to your estimates and invoices.
This article walks you through the steps of creating a new tax rate, using it across documents, and managing its settings.
Steps to Add a New Tax
Step 1: Navigate to Income ->Taxes
Step 2: On the Taxes page + New Tax button to start creating a new tax policy.
Step 3: Enter Tax information
| Field | Description |
|---|---|
| Tax Policy Name | Choose a descriptive name (e.g., VAT, Sales Tax - California) |
| Tax Rate (%) | Input the tax percentage (e.g., 7.25%) |
| Tax Account | Select the appropriate account (e.g., Sales Tax, Income Tax Payable) |
| Description (optional) | Add internal notes or clarifications about the tax |
Example: Creating a Sales Tax for California
Here’s what a completed entry might look like for a U.S. business:
| Field Name | Example Entry |
|---|---|
| Tax Policy Name | Sales Tax – California |
| Tax Rate (%) | 7.25% |
| Tax Account | Sales |
| Description | Standard sales tax for California State |
Step 4: Click Save once the tax details are complete.
The tax you just created will now appear in your list of available taxes.
Additional Tips & Features
✅ Enable or Disable a Tax
Use the toggle switch next to each tax policy to activate or deactivate it—handy when certain taxes are temporarily not in use.
✅ Apply Taxes in Invoices & Estimates
When creating or editing an invoice or estimate, select a tax rate from the Tax dropdown in the Item Details section.
Fynlo automatically calculates and includes the correct tax in your total, keeping everything accurate and compliant.
If you encounter issues during the export process or need further clarification, feel free to reach out to our support team at support@fynloapps.com. We’re here to help!