How to calculate tax for a period and record a payment
You can calculate tax for a period in Tetri from your income transactions: the Taxes section shows the amount as of today and what is left to pay. There you can set up a tax, record payments in parts and sort out the transactions that are not in the amount.
How to calculate tax for a period
Tax for a period depends on the income you received and the rate, so you don't have to collect statements by hand. In the Taxes section you see how much has accrued so far and how much is left to pay. It is for people who pay tax themselves: freelancers, self-employed people and small business owners.
Tax as of today
For the current period, the page shows the tax as of today, and it counts only the income received since the period began. The amount grows with each new income transaction. No tax is calculated for the end of the period or the year, because future receipts are not included. In the example, two receipts give 5,600 GEL of income, and the tax at a 1% rate is 56 GEL. The calculation panel shows the formula and the transactions of each group.
56
GEL
Estimated tax for November
as of today · the period ends on November 30
Client ANov 3 · $1,2003,240GEL
Client BNov 14 · €8002,360GEL
How to set up a tax from scratch
In the Taxes section, click "Set up a tax" (or "+ Tax or contribution" if taxes already exist) and go through the "Set up taxes" wizard: country and tax, income categories, start of tracking. On the last step, check the settings and click "Save". If the country is not in the list, choose "Another country" and "Set up manually".
Set up taxes
Step 3 of 4 · Start of tracking
How to record a tax payment in parts
Open the period from the year view and click "Record payment" in the payment task. In the form, enter the amount and the "Payment date". With the "Add the expense to the wallet" box ticked, a transaction is recorded in the chosen wallet; if the expense is already there, untick the box so it is not recorded twice. The form shows what remains after the payment, so you can pay the tax in several parts.
Record a payment
amount, date and wallet
PaymentDec 10 · 16 GEL remains after it40
How to count a transaction as income or exclude it
In a period, transactions are grouped as "Included in calculation", "Needs review", "Missing exchange rate" and "Excluded from calculation". Each transaction shows its reason: a rule, a manual choice or a transfer between your own wallets. For every transaction without a decision, the task "Review transactions" asks "Include in this tax calculation?" with the answers "Include" and "Exclude". You can save the answer as a rule for this tax.
Transfer to myselfTransfer between own walletsExcluded from calculation
Receipt without a categoryNo matching tax ruleNeeds review
Include
Exclude
How to add a rate for a transaction in another currency
Income in a currency other than the tax currency is converted at an exchange rate. Transactions without a rate are not in the calculation, and the task "Add exchange rate" covers them. In the "Rate for conversion" form you can enter a rate for each transaction or choose "Do not count as income". With the rate saved, the transaction is in the calculation.
Client CNov 18 · €600 · no rateMissing exchange rate
Rate for conversion
a rate for each transaction
How to skip a period with no tax to pay
If no tax is due for a period, choose "Skip period" in the "Actions" menu on the period page. The period stays in the list and has its own no-payment status in the year view. "Resume period" returns it to the calculation.
How to change a tax without losing payment records
Open the "Actions" menu on the period page and choose "Edit tax settings". After saving, the tax amounts are recalculated, and the recorded declaration and payment amounts stay unchanged. When a template is updated, the task "See the changes" appears, shows how the tax would change and lets you "Apply" the update or choose "Do not apply". If you delete a tax, it leaves the overview and the wallet transactions stay.
What the tax calculation does not replace
The calculation does not replace a tax return or the advice of a tax professional. A tax template is only a starting point: check the rate and the deadlines with the tax authority before saving. When data is missing for some transactions, the amount is marked as provisional and the page lists what it leaves out. You file the return and pay the tax outside the app, and the section lets you record the filing date, the amount in the return and the payments.
Frequently asked questions
The Taxes section shows the amount as of today for the current period, with the date the period ends. It includes only the income received up to that day.
Yes. Templates exist for Georgia and Spain. For other countries, choose "Another country" or set the tax up manually, with the rate, deductions, period and deadline. Check the rate and the deadline with the tax authority before saving.
The start of tracking "From January" lets you mark the periods that are already paid in full. With "From the current period", past periods are not tracked.
They have no exchange rate or no decision on income. The tasks "Add exchange rate" and "Review transactions" collect them.
No. The tax is calculated only from transactions already recorded, and future receipts are not included.
No. You file the return with the tax authority, and the Taxes section lets you record the filing date and the amount in the return.
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