Calculated Tax Payments

A Calculated Tax Payment performs automatic calculations based on an existing Payment and a specified tax amount.

In order to create Calculated Tax Payments, an administrator must configure Payment types to be taxable.

1. Navigate to a Lease home page.

2. Scroll to the Payments pane.

3. In the toolbar of the Payments pane, click Add.

4. Complete the Details pane of the form, including the following fields:

   • Type: Select Calculated Tax Payment.

     The Taxed Payment drop-down menu appears, displaying a list of taxable Payments associated with the Lease.

   • Taxed Payment: Select the Payment on which to apply the calculation.

   • Calculate Off Gross Amount?: Select this check box if the Calculated Tax Payment should be calculated based on the gross amount of the Payment.

   Once the Details pane is complete, the Scheduling pane automatically populates with information from the selected Payment. This information must be linked so the payment lines for the Calculated Tax Payment are properly synced to the selected Payment.

5. Navigate to the Cost pane and enter a value between 0 and 100 in the Tax Rate field.

   This is the tax rate percentage used to calculate the Payment.

6. Complete the remainder of the form.

7. When the form is complete, click Save.

   The Calculated Tax Payment appears in the Payments pane of the Lease home page.

When calculating the tax rate, the selected taxed Payment automatically includes all Escalations associated with the Payment.

Any amount changes made to the linked Payment are reflected on the Calculated Tax Payment as well.