Set Tax Codes on Individual Lots

Wavebid allows you to set a Tax Code for a single lot separately of the rest of the auction, allowing you to tax lots independently of what the taxation for the auction or the buyer invoice is.

In order to be able to proceed you must have already created company-level tax codes in My Links > Company > Accounting Settings > Tax Codes.

Auction Configuration

First you must configure the specific lot attribute that will enable the ability to do this:

  1. From the Dashboard go to your auction, then Auction > Edit Settings.
  2. In the Auction Attributes tab, under the Attributes section look for Different Tax Rates per lot?.
  3. Enable this attribute by placing a checkmark on it.
  4.  Save your auction.
Different Tax Rates per Lot

Different Tax Rates per Lot

If you have enabled Advanced Auction Attributes in the company profile you will find this option under the Adv. Auction Attributes tab.

Lot Configuration

Once the previous step has been done you are now ready to configure each lot individually:

  1. From the Dashboard go to your auction, then Catalogs > Lot Builder.
  2. Once in the Lot Builder find the lot you want through the Go to Lot dropdown at the top of the page.
  3. In the Lot Details tab go to the Tax Code field and click on it.
  4. Select the Tax Code you wish to apply to the lot
  5. Click Set Tax Code.
  6.  Save the lot.
Lot Details - Tax Code

Lot Details - Tax Code

You can also set whether the lot is tax exempt directly in the Lot Details tab or within the Tax Code selection window.

Invoices.

After performing the previous steps the lot will automatically use the specified Tax Code without further intervention but you can still override this on the invoice itself if need be.

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