Setting Your Preferred Currency
Step-by-Step Guide to Setting Your Preferred Currency
Open the InvoiceFly app.
Tap the Settings icon located in the top left corner of the screen.
Select Tax and Currency from the settings menu.
In the Location section, tap Currency.
Choose your preferred currency from the dropdown menu.
A message will appear asking if you want to apply the changes to your previous invoices and estimates.
Your selected currency will be the default for all future invoices and estimates. You can also manually change the currency on existing invoices and estimates.
Configuring Tax Types and Rates
Step-by-Step Guide to Configuring Tax Types and Rates
Tap the Settings icon located in the top left corner of the screen.
Select Tax and Currency from the settings menu.
In the Tax section, tap Type.
Select a Tax Type: Per item, On the total, or None.
Set Tax Rate: Enter the tax rate as a percentage.
Tax Label: Enter a label for the tax (e.g., VAT, GST) that will be displayed on invoices.
There is no need to tap Save; changes are applied automatically. You can adjust tax types and rates at any time to meet different tax requirements for various products or services.
Understanding Tax Settings on Invoices
How Tax Settings Work on Invoices
Applying Taxes to Invoices:
When creating or editing an invoice, you can apply configured tax rates to individual items or to the total invoice amount.
To apply tax to a specific item, adjust the Tax Type in Tax and Currency, then modify the tax for each item as needed.
To apply tax to the total invoice amount, select the appropriate tax type in Tax and Currency.
Displaying Tax Information:
Taxes will be displayed on the invoice either under the itemized list or in the summary section, depending on your settings.
Tax labels and rates will be shown clearly to ensure transparency for your clients.
Tax Calculations:
InvoiceFly automatically calculates the total tax amount based on the rates you’ve set and applies it to the invoice.
The total, including taxes, will be displayed at the bottom of the invoice, ensuring clarity for both you and your clients.
These settings ensure that your invoices are accurate and comply with local tax regulations, providing your clients with a clear and professional presentation.