Each tax code has a formula that determines how Web TimeSheet calculates the tax amount.
The list of Tax formula operators while importing tax codes data is given below:
OPERATOR DESCRIPTION
+ Add
– Subtract
* Multiply
/ Divide
( ) Indicates precedence – values in brackets will be calculated first
$Net Tag for the net amount, which is used to calculate the tax amount.
Example 1
The formula for a 7% state sales tax would be entered as follows:
$Net * 0.07
Example 2
The formula for a flat tax (such as airport tax) would be entered as follows:
10.00