Managing Invoice Taxes and Discounts in Britixo CRM UK.

📘 Introduction:

Britixo CRM UK simplifies applying taxes and discounts to your invoices. Clearly defined tax and discount options ensure accurate billing, professional invoicing, and seamless compliance with UK financial regulations. This flexibility helps your practice management software support precise financial management.

🧾 Step-by-Step: Adding Taxes to Invoices

1. Navigate to Tax Settings

• From the Britixo dashboard, go to Settings > Finance > Taxes.
  
  

2. Create a New Tax Rate

• Click Add New Tax.
  
  

• Enter the Tax Name (e.g., VAT) and Tax Rate (percentage, e.g., 20%).
  
  

• Choose whether tax is Compound or standard.
  
  

• Save your new tax setting.
  
  

3. Applying Taxes on Invoices

When creating a new invoice:

• Add your invoice line items.
  
  

• Select the relevant tax rate from the dropdown menu next to each item.
  
  

• Britixo automatically calculates and applies the tax to the invoice total.
  
  

💸 Step-by-Step: Adding Discounts to Invoices

1. Enable Discounts

• On the invoice creation screen, click Add Discount below invoice items.
  
  

2. Select Discount Type

• Choose either Percentage (%) or Fixed Amount (£).
  
  

• Enter the value for the discount.
  
  

3. Apply and Verify Discounts

• Britixo instantly calculates the discount amount and adjusts the invoice total.
  
  

• Discounts clearly display on invoices, showing clients the exact savings.
  
  

📌 Applying Default Taxes and Discounts

• Set default taxes and discounts per client in their profile under Clients > Billing Details.
  
  

• Default settings automatically apply to all future invoices for that client.
  
  

🔍 Compliance and Reporting

• Britixo practice management software UK records detailed tax and discount data for accurate financial reports.
  
  

• Access reports under Reports to easily monitor and report taxes and discounts for compliance and auditing purposes.
  
  

✅ Pro Tips:

• Clearly communicate tax and discount details in invoice notes for transparency.
  
  

• Regularly update tax rates in accordance with HMRC guidelines.
  
  

• Use discounts strategically to incentivise prompt payments from clients.