Tax information
GST/HST registration, filing frequency, and how tax is calculated on a transaction.
The client tax profile
Each client's tax profile records whether they're GST/HST registered and their filing frequency (monthly, quarterly, or annually). This is what the GST/HST preparation summary report is built from — it's set once per client, not re-entered per transaction.
Why tax presets are effective-dated
Tax rates and a client's registration status can change over time. Verluma Entry keeps tax presets effective-dated rather than as a single current value, so a transaction from eight months ago is always calculated using the rate that actually applied then — even if the client's current settings have since changed. Nothing gets silently recalculated after the fact just because a setting changed today.
Three ways to calculate tax
- Exclusive — you enter the subtotal, tax is calculated and added on top.
- Inclusive — you enter the total, tax is calculated as already included.
- Manual — you type the tax amount directly, useful when a receipt's printed tax line doesn't divide out to a clean percentage.
What this isn't
Verluma Entry organizes tax information for your records and prepares a GST/HST summary — it does not file a return, does not guarantee a given input tax credit is eligible, and isn't a substitute for your accountant's judgment on anything tax-related. Treat every tax figure here as prepared for review, not as filed.