MyHallWizard can help you add VAT or GST to your invoices if necessary. This article shows you how to set it up.
Setting up VAT or GST #
New venues #
When you create a new venue in MyHallWizard, you will be asked if you charge sales tax. If you do (e.g. your venue is VAT registered), simply change the switch to Yes.
You will then be asked to enter your tax identification number (e.g. VAT Number in the UK or Ireland, GST Number in New Zealand or ABN in Australia), to confirm the current tax rate and to say whether your prices include or exclude tax.
Existing venues #
Before setting up an existing MyHallWizard venue for VAT or GST, if you export your invoices to Xero or to QuickFile, you should ensure you export any existing invoices, as the behaviour of these reports changes when you have set up VAT or GST, and they may export incorrect tax information on existing invoices after you have set this up.
If you already use MyHallWizard for your venue and you want to start showing tax on your invoices, you need to get to Settings then choose VAT (or GST).
On the VAT or GST screen, change the Do you charge VAT switch to Yes. You will then be asked to enter your tax identification number (e.g. VAT Number in the UK or Ireland, GST Number in New Zealand or ABN in Australia), to confirm the current tax rate and to say whether your prices include or exclude tax.
Finally, remember to click Save.
Creating Tax Invoices #
Once you have set your venue up for tax, taxes will be automatically added to all invoices you create from now on, and your tax identification number will be shown. The invoice lines will be shown gross or net of tax depending whether your prices include or exclude tax.
All lines will be shown using the configured tax rate as at the booking date or the invoice date, whichever is earlier. Adding or editing lines on the invoice gives you the option to change the tax rate charged on a particular line, or to remove tax entirely from that line if you need. This enables you manage items which are not taxable. If tax does not apply, you should clear the tax rate field entirely; if a line is zero-rated, you should enter 0 in the tax rate field.
Disclaimer: It is your responsibility to ensure that the correct rate of tax is charged for each line on the invoice. We are unable to offer any advice in this respect, and you should consult with a professional accountant if you require advice.
Note that if you are an existing venue which did not previously show tax on your invoices, your existing invoices will not be changed to show tax; tax will only be shown on new invoices. Note however that if you have a draft invoice which does not show VAT and you add or edit a line on the invoice, the invoice will become a tax invoice, but most lines will not show the correct tax amount. You should either edit all invoice lines, or delete the invoice and create it again.
Changes to the tax rate #
From time to time, the government may change the tax rate. You can update the tax rate in MyHallWizard as follows:
- Go to Settings and select VAT or GST from the Settings screen
- In the VAT rate table at the bottom of the VAT or GST screen, click the New VAT Rate button.
3. Enter the date the next tax rate applies from and the percentage tax which will apply, then click Save.
If we become aware of pending tax rate changes, we may do this for you, in which case we will let you know.
Disclaimer: It is your responsibility to ensure that the correct tax rate is charged. When tax rate changes, you should check MyHallWizard to ensure the new rate has been correctly entered. We are unable to offer any advice regarding sales taxes, and you should consult with a professional accountant if you require advice.
Totalling the tax you have charged #
MyHallWizard is not accounting software, and we are unable to give you the figures which you need to enter on your tax return. However, you can use the Invoices Report to list all your invoices and their net, tax and gross figures to assist you with this.
You can export this report to CSV or Excel for further analysis, if you wish.