Tax Invoice Creation

virtuallycassvirtuallycass Member Posts: 1

Hi, can anyone tell me how I can create a tax invoice with Wave, as opposed to a regular invoice? I have never created one before, but a government contract requires one to pay my fees.
Thanks!

Comments

  • JordanDJordanD Administrator, Moderator Posts: 316 admin

    Hey @virtuallycass and welcome to Wave's Community Forum!

    From my understanding, tax invoices differ between jurisdictions, so I can't speak to the nuances of what your specific area restrictions would include, but I can speak to how Wave invoices work on a high level. Perhaps if you could leave us with further information about what requirements you would have in your area, I might be able to further clarify if specific features are available in order to use Wave for tax invoices.

    Correct me if I'm wrong, but I believe that a tax invoice would require a break-out of sales tax on each item that is on the invoice. If this is the case, within Wave the invoices you will apply a sales tax to each item individually added to the invoice. In saying that, I can say that Wave wasn't created specifically with tax invoices in mind, however, with your insight and potentially the insight of any other Wavers, I may be able to find a way to assist in making it work for this specific case.

  • Hot_GlassHot_Glass Member Posts: 22

    Essentially when you create an item and allot a tax to it, you have a tax invoice.
    You ABN or other jurisdiction supplier number comes up (the one entered in settings) on the invoice under the INVOICE title, and next to the GST 10% summary total line.

    I created a new tax called GST (it could be VAT etc where you are), then this comes up automatically when the items / services I sell are selected on an invoice.
    I also export some goods, so created a tax called Export with 0% tax, you can select this when the items / services are entered without creating a new tax free item, the new invoice shows 0% tax.

    Now, if you're asking for a TITLE of the document to be TAX INVOICE, well I'm not sure this can be changed permanently, but when making up an invoice, you can click on the drop down arrow on the (wait for it) 'Business address and contact details, title, summary, and logo' window, and manually add 'TAX ', to the front of 'INVOICE'.

    I seem to recall invoices here in Australia SHOULD be titled Tax Invoice, but I don't worry about it with mine . . . unless the ATO decide to discuss the matter with me sometime in the future :/

    Does that help with your inquiry ?

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