You can apply multi-part tax codes to card transactions in Float. These tax codes include multiple components, each with its own rate. When you select a multi-part code, separate fields will appear for each component.
How to Select a Multi-Part Tax Code
- Navigate to Transactions
- Click the transaction you want to complete
- In Transaction Details, choose the appropriate tax code
If the selected tax code has multiple tax components, a field component will appear for each required rate. These amounts will be automatically filled based on which Source is selected for the Tax Amount:
Invoice: The tax amount will be pulled by the OCR from the uploaded invoice document
Tax Code: The tax amount will be calculated based on the selected Tax Code and the tax rate of each component
Override: The tax amount will be calculated based on the manually inputted tax amount for each component
If needed, you can manually edit the component fields. When editing a component field, the total "Tax Amount" will update automatically.
Exporting Transactions with Multi-Part Tax Codes
Bookkeepers and Admins can view and edit multi-part tax codes from the Transaction Export page.
What you'll see
Each transaction includes a summary of:
- The total tax amount
- A breakdown of each tax component
- Any tax-exempt amounts