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Applying Tax Codes

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This article describes the process for applying Tax Codes to an auction, individual lot, or an invoice.

*Please note that tax information set in Wavebid will not feed over to Proxibid. 

This article contains the following sections:

 

Apply Tax Code to an Auction

Tax Rates and Codes must be created at the company level before they can be applied to an auction.

To select a Tax Code to be applied to an auction:

  1. Navigate to the applicable auction from the Dashboard, then select Auction > Edit Settings.
  2. Select the Accounting tab.
  3. Click on the Change button under Auction Tax Code on the right side of the page. AuctionTaxCodeChangeButton.PNG
  4. A pop-up window will appear. Confirm that the state is correct and then select a Tax Code from the drop-down menu.
    • The options that appear in the drop-down are those that have been created at the company level.                                                                          AuctionTaxCodeDropDown.PNG
  5. Click the Set Tax Code button. The selected Tax Code should now be the listed Auction Tax Code.
    • If the auction should be tax exempt, check the Auction Tax Exempt box.    AuctionTaxCodeSetTaxCodeButton.PNG
  6. Click the Disk icon in the top right corner of the screen to save the auction. SaveAuctionButton.PNG

Remove Taxes

To remove taxes that have been applied at the auction level, click on the Change button under Auction Tax Code on the right side of the page. A pop-up window will open. Click the Remove button in the pop-up, and then click the Disk icon in the top right corner of the page to save the changes. 

 

Apply Tax Code to a Lot

Tax Rates and Codes must be created at the company level before they can be applied to any lots.

Auction Attributes

Wavebid allows for Tax Codes to be set for a single lot, independently from the Tax Codes established for the rest of the auction. The Auction's Attributes will need to be updated before Tax Codes can be applied at a lot level:

  1. Navigate to the applicable auction from the Dashboard, then select Auction > Edit Settings.
  2. Under the Auction Attributes tab (or Adv. Attribute Settings tab), check the Different Tax Rates per lot box. ApplyTaxCodes1.jpg
  3. Click the Disk icon in the top right corner of the page to save the auction.

 

Applying Tax Codes to Individual Lots

Once the Auction's Attributes have been updated, Tax Codes can be assigned to lots individually:

  1. Navigate to the applicable auction from the Dashboard, then select Catalogs > Lot Builder.
  2. On the Lot Builder page, use the Go to lot drop-down menu at the top of the page to select the appropriate lot.
  3. Click on the Tax Code field under the Lot Details tab at the bottom of the page. A pop-up window will open.
  4. Use the drop-downs to select the applicable State and Tax Code.
    • Note, Tax Rates and Codes must be created at the company level before they can be applied to any lots.
  5. Click the Set Tax Code button. The pop-up window will close.
  6. Click the Disk icon in the top right corner to Save the lot.
    • The lot will automatically use the specified Tax Code without further intervention, but it can still be overridden on the invoice as long as payments have not been applied.
2018-05-18_14-20-15_Lot_details_tax_code.gif

Applying Tax Codes in Bulk

Once the Auction's Attributes have been updated, Tax Codes can be assigned to lots in bulk via Lot Bulk Actions.

  1. Navigate to the applicable auction from the Dashboard, then select Catalogs > Lot Bulk Actions.
  2. Click the Columns button on the right side of the page and ensure the Tax Code field is selected.
    • Selected columns will appear in blue.
  3. Check the box to the left of each lot that needs to be changed, or click the Select All Lots button in the top right corner of the page to select all lots.
  4. Once lots are selected, click the Pencil icon in the top right corner of the page. A pop-up window will open.
    • If the auction has generated invoices that already have payments applied, a message will appear indicating that updates to those lots will not appear on those paid invoices. Click the I'm Sure button to continue.
  5. Use the Select Which Lot Detail to Edit drop-down to select Tax Code.
    • Note, Tax Rates and Codes must be created at the company level before they can be applied to any lots.
  6. Click in the Set to (for all selected lots) field. A pop-up will open.
  7. Use the drop-downs to select the applicable State and Tax Code. TaxCodes5.jpg
  8. Click the Set Tax Code button. The pop-up window will close.
  9. Click the Edit All Selected Lots button. A confirmation message should appear. TaxCodes4.jpg

Importing Tax Codes

Tax Codes can be imported alone or along with the rest of the catalog. A spreadsheet will need to be created in order to import Tax Codes. The spreadsheet will need to be saved as .CSV (comma-separated values) file type. The .CSV must contain at least two columns: Lot Number and Tax Code.

The Tax Codes entered into the Tax Code column on the spreadsheet must be those that were created at the company level. If Tax Codes are imported that have not yet been created at the company level, they will not be applied to lots correctly. For more information on company level Tax Codes, see Creating Tax Codes.

TaxCodes2.jpg

  1. Once the spreadsheet has been created, navigate to the applicable auction from the Wavebid Dashboard and select Catalogs > Import Catalog.
  2. Click the Choose File button, select the spreadsheet, and click the Upload button.
  3. Map the columns as shown below. 
  4. Click the Import button at the bottom of the page. A confirmation message will appear.

 

Editing Tax Codes on an Invoice

Tax Rates and Codes must be created at the company level before they can be applied to an invoice.

Tax Codes can be edited/applied to an item on the Invoice, independently from the Tax Codes used for the lot or auction.

  1. Navigate to the appropriate auction on the Dashboard, then select Accounting > Invoices.
  2. Click on the Invoice Number of the applicable invoice. InvoiceList.PNG
  3. Click on the blue tax value in the Sales Price Tax column.
    • If payments have been removed from the invoice and the tax values do not display in blue and the Details section of the invoice template has been customized, please contact a Wavebid Administrator for further assistance. InvoiceEditSalesTax.PNG
  4. A pop-up window will appear. Use the drop-downs to select a State and Tax Code and then click the Set Tax Code button.
  5. Confirm that the invoice tax and totals have been adjusted.
    • Altered tax rates will have an asterisk (*) located to the right of the new amount to indicate that it is a variation from the auction default.
    • This asterisk will be removed if the tax rate is returned to the default auction rate.EditedTaxRate.jpg

If the steps above do not alter the tax rate on the invoice, see Why Can't I Edit the Taxes or Premiums on an Invoice?

 

Troubleshooting

Unable to Edit Tax Code in Lot Builder

If clicking in the Tax Code field under a lot in Lot Builder does not open the Tax Code pop-up, it is likely that the Tax Code currently in that field was imported and has not yet been created at the company level. To correct the issue, create the Tax Code at the company level following steps found in this help article.

 

 

 

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