Catégories

Taxes

Tools to manage taxes

The Collabox has all the tools to manage taxes. Among other things, the “tax reverser” tool.

It also has the function to make your tax rebates easily in 1 click, if you have entered your invoices and your disbursements beforehand.

Jun 17
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Tax reverser

By Accounting, Taxes

Do your customers often ask you to make prices with taxes included, to have a nice round number on the “Total” line? It happens to us all the time and that is why we have now integrated it into our invoices. A little click and you’re done!

The secret lies in a new clickable icon that can be found on  the bills. Located next to the “Add” button allowing you to create a new item in the invoice, all you have to do is enter the necessary information as in the example and click on it. 
 reversetax1

It is important to have entered an amount on the line. As soon as you click on the tax reverser, the amount is adjusted and when you click on “Add”, the total amount will be the one written before (here $ 60).

reversetax2 

Jun 04
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Tax remission

By Accounting, Billing, Taxes

Like many businesses, you collect the GST and QST for the government. You accumulate these taxes until you have to send them to the various levels of government. The operation may seem easy, but the task can quickly get complicated, especially since you are entitled to a refund of these taxes on your disbursements. Our team has thought of everything and we have integrated into Collabox a perfect tool for tracking your tax rebates. In addition, we even had the wonderful idea of presenting the most important information in tabular form with the correct codes when you do your tax returns. We like to make your life easy.

To access this report, you must first access the “Accounting” module by clicking on its icon located in the top menu bar.

Then the report is accessed by clicking on “Tax remission” in the left sidebar.

Screen Shot 2016-06-17 at 15.40.31

The next step is to choose the time period you want to display. So you can see your discounts annually, quarterly or monthly.
Screen Shot 2016-06-17 at 15.40.38

The top table gives you a summary of all the tax information you need. Collabox automatically calculates the sums of taxes that you have collected, but also those that you can deduct from your disbursements. Below the table, you will find the details of all your invoices as well as your disbursements with their respective taxes.Screen Shot 2016-06-17 at 15.40.50

Explanations of the names in the summary table

Granted, the tax jargon can be complicated. This is why we take the trouble to explain it to you with the help of information provided by Revenu Québec .

Inputs: We mean by inputs all goods or services used or consumed in your business activities.
ITC: Input tax credit
RTI: Refund of input tax

The numbers that you can see with the titles correspond to the government numbers. These numbers are those of the boxes of the tax return.Screen Shot 2016-06-17 at 15.40.50 copy

At the bottom of the page, Collabox shows you the amounts you have to pay and what you have already paid. Are you due to make a payment? Just click on the “Create a GST and QST payment” button.Screen Shot 2016-06-17 at 15.41.01 Collabox will take you directly to the right place to enter your payment. The correct amounts are already entered, so there is no chance of going wrong. If you pay by check, you can enter its number and Collabox will record the payment and redirect you to print your checks. It’s simple as hello!Screen Shot 2016-06-17 at 15.41.21 Once the payment has been made, the summary in the “Tax remittance” page is adjusted automatically. It’s almost magical.Screen Shot 2016-06-17 at 15.43.27