Tax Configuration

How to configure tax authorities and tax related line items 

For taxes to post when policy transactions are created they need to be appropriately configured. This page describes that setup.

Tax Authorities

First, tax authorities need to be created. These are accessed via “Admin” → “Tax & Coverages” → “Tax Authorities”.

Taxes

Taxes are available under their associated region, available by following this path from the BindHQ navigation

“Admin” → “Tax & Coverages” → “Taxes”→ “Browse & view regions/taxes”

 

You can then browse the regions, clicking each one will display it’s associated taxes on the “Taxes” tab.

 

Each tax can then be edited to specify the accounting line item it posts to, and the tax authority entity that should receive the bill.

For example Selecting the dropdown labeled 'Item" will enable you to choose that regions State Tax. Then Selecting the Tax Authority dropdown will enable you to associate it with that state or regions tax authority.



Associating a line item to an existing Tax Authority


When associating the tax authority you can use effective/expiry dates to sunset use of particular tax authorities.