Banquets - Editing Tax Rates and Service Fees

Owned by Danielle Donley (Unlicensed)
Last updated: Sept 18, 2023 by Benjamin Hacker
4 min read

Table of Contents

Overview

Do you sometimes find that you need to change up a tax rate or service charge for one event, but not make permanent changes to your tax rates or service fees?  Or perhaps you forgot to flag an event as tax exempt? It’s an easy fix when you go to your View Financial Details page within the Event.  

Required Permissions

  • Admin Access

  • Level 1

  • Level 2

Accessing the Tool 

  1. Access the View Financial Details page within the Event.   

Tax Rates

  1. Scroll down to the red banner that labeled Tax Rates. Click the button that says Edit Rates beneath the Tax Rates banner.

  2. If the event should be tax exempt, you will simply flag the tax-exempt box, save and all taxes will be removed.  

  3. To edit the tax rates, find the revenue center you want to change and enter in a percentage amount.  

  4. Existing percentage amounts can be removed by replacing them with 0.0000%. Tax rates that should be applied to the service charges can also be edited while editing tax rates.

Service Fees 

  1. Service Charge rates can be edited after the event has been created. Scroll further down the page and click on Edit Rates.

  2. To edit the service fee rates, find the fee you want to change and enter in a percentage amount. You can also remove an existing percentage amount by replacing it with 0.0000.  

Updating Tax Rates and Service Charges Globally

  1. Within the left hand panel, select Settings.

  2. Select Event Financials to expand the settings.

Service Fees

  1. To change the name of an existing service fee, first select Manage Service Fee Names and then select Edit next to the service fee that needs changed. Update the name and select Save.

  2. To update service fee rates select Manage Service Fee Rates. To change a rate, select Edit next to the applicable service fee. Make any desired changes. Click Save to finalize.

  3. Service fees can be re-ordered by using the Manage Service Fee Rate Options.

Tax Rates

  1. To change the name of an existing tax rate, select Manage Tax Names. Select Edit next to the rate that needs changed. Update the name and select Save

  2. To update a tax rate, select Manage Tax Rates. Select Edit next to an existing Rate or select New to create a new tax rate. Give the schedule a name and date. Then, put what each tax percentage will be for each revenue center.

Reserve Tax Mapping Setup

In order for the system to map a specific Reserve tax to a specific Tax Code Item in Office, some initial setup must be performed in Reserve and in CMA:

  1. Ensure that the name for each tax in Reserve is spelled exactly the same as the corresponding Tax Code Item in CMA.

  2. Select a Default Tax Code Item in CMA

Step 1: To verify that the Reserve Tax names match the Tax Code Item names in CMA, go to the club’s page at reservecloud.com. Once there, navigate to:

Settings -> Event Financials -> Manage Tax Names

You should see a page that looks like this

For each Tax Name you see in Reserve, find the corresponding Tax Code Item in CMA that you want to map to. Verify that the name in Reserve matches the name of the Tax Code Item exactly (all characters and spaces). To be safe, copy and paste the Tax Code Item name from CMA to Reserve

Step 2: In CMA navigate to:

System -> System Settings -> Partner Products -> Reserve Gateway

Click on the “Revenue Centers” tab. Select a Default Tax Code Item. Note: it is the selection of a Default Tax Code Item that tells the system to use the new Tax Mapping logic. If a Default Tax Code Item is not selected, the system will continue to use the existing Tax Mapping logic.

A note about how the new tax mapping logic works:

When the system pulls down an event from Reserve, it looks at each Reserve Revenue Center to see if there are taxes. If it finds any taxes (there could be zero, one, or multiple taxes for each Revenue Center), it will do the following:

  1. Attempt to match, by name, each Reserve tax to one of the Tax Code Items that is configured on the Revenue Center Item in CMA.

  2. If step 1 fails, the system will select the first Tax Code Item that is configured on the Revenue Center Item (similar to how the existing logic works).

  3. If step 2 fails, as a last resort the system will select the Default Tax Code Item.

Best Practices

  1. Editing the tax rates and service fee rates of an event only apply to that individual event and do NOT edit the rates of the entire organization.

FAQs