Preferences: Taxes
TimeCache lets you designate up to three different taxes that can be applied individually to any entry. You can set or change the rates and terms used for any of them in this TimeCache Preferences setting panel.

Tax 1-
Rate: Enter the percentage to multiply taxable entries by. Enter the amount as the actual percentage that should be added. For example, if your local tax rate is 6.3%, enter "6.3" in this text entry box.

Name: Enter the name to use on-screen and in reports.

Tax 2 and Tax 3 are activated if the previous tax category has been given a rate higher than 0. In other words, you cannot enter a Tax 2 category until you have created a Tax 1 category, and Tax 3 requires there being a Tax 2 category. You enter the names and rates for Tax 2 and Tax 3 in the same fashion as for Tax 1.

Make taxes cumulative: When checked, TimeCache applies the Tax 2 percentage to an entry's net or marked-up amount (see below) plus its Tax 1 charge (if it has been applied to the entry). It applies the Tax 3 percentage to an entry's net or marked-up amount plus its Tax 1 charge (if applied) and its Tax 2 charge (if applied). If this option is left unchecked, taxes are applied only to the net or marked-up amount.

Apply taxes to: Choose whether to apply taxes to net charges (without markups), or marked-up charges. All taxes added to an entry are calculated based on this setting.

Update Job Sheets: Clicking this button applies any changes you make to tax rates or how to apply them, to existing Job Sheet entries. It applies all changes you have made to all entries that have taxes applied to them. It does not apply taxes to existing Job Sheet entries. If you do not update Job Sheets with this button, their tax rates will remain as originally entered unless you make other changes to those individual entries.