Easily manage tax compliance across estimates, invoices, and reports
Taxes are a critical part of your financial operations, whether you're handling VAT, sales tax, or self-employment tax. With Fynlo, setting up and managing taxes is simple and flexible, helping you stay compliant without disrupting your workflow.
This article introduces how Fynlo’s tax features work and how you can start configuring them for your business needs.
What You Can Do With Taxes in Fynlo
✅ Create Custom Tax Rates
Define one or more tax rates that apply to your business. Some sample tax policies might include:
Canada HST – 13.00%
US Self-Employment Tax – 15.30%
STANDARD RATE – 7.25%
Each policy is assigned to a Tax Account (e.g., Income Tax Payable, Sales Tax), ensuring proper classification in your books.
✅ Apply Taxes to Line Items or Totals
Choose how tax is calculated:
Per line item – Ideal for businesses with variable product/service tax rates
On the invoice total – Best for flat-rate tax applications
This flexibility lets you align tax calculations with your pricing model.
✅ Enable or Disable Taxes
Use the Status switch in the Taxes list to temporarily deactivate a tax rate without deleting it. This is helpful for seasonal or location-specific taxes.
✅ Maintain Tax Consistency
Consistent tax application helps:
Avoid errors and discrepancies
Simplify reconciliation and reporting
Build trust with clients through transparent documentation
✅ Edit or Delete Existing Taxes
Update tax policies anytime:
Change tax rates
Rename tax labels
Delete unused or outdated policies
Quick access icons make these changes fast and intuitive.
When to Set Up Taxes
We recommend setting up taxes before sending your first estimate or invoice, especially if:
You operate in multiple tax jurisdictions
You regularly apply VAT, sales tax, or similar charges
You want clean, audit-friendly reporting for accountants or tax agencies
Where Taxes Appear in Fynlo
Estimates – Add taxes to quotes and proposals before client approval
Invoices – Automatically apply taxes when billing your customers
Reports – Track tax collected across documents for reconciliation and compliance
✅ Ready to Configure Your First Tax Rate?
Now that you have a high-level understanding of how taxes work in Fynlo, let’s move on to setting up your tax policies.