Customize and manage the financial aspects of your club, ensuring smooth financial processes for gym and members. Tax Rates
Before you begin selling your products and services through GymMaster, you’ll need to make sure that your tax rates are set up correctly.
Add Tax Rates
Settings > Financial Configuration > Tax Rates > Adjust tax Rates > Add Tax Rate
Differentiate tax rates for each category: You can establish separate tax rates for various categories of items sold at your facility.
Define tax rate details:
Tax Rate Title - use this as a reference within GymMaster (e.g., Booking Tax, Product Tax)
Tax Rate Name - this appears on receipts and invoices as a reference for your members
Set as Default - select to have this tax rate pre-selected in sales and services (can be adjusted per sale/service)
Tax Rate Components - determine the applicable tax percentage based on local requirements
Most tax rates have a single component, but some regions may have multiple components
In example, we have created GST tax rate, a default Sales Tax applied to most products and services.
The tax rate is set at 12.5%.
Apply Tax Rates
Once your tax rates are created in Financial Configuration, they can be applied to your products and services;
Memberships - apply tax rates via Membership Types > Membership Categories
Class Bookings - apply tax rates via Bookings and Classes > Classes > Class Categories
Service Bookings - apply tax rates via Bookings and Classes > Services > Service Categories
Products - apply tax rates via Products
Maintenance Fee - apply tax rate via Club Details > Maintenance Fee
General Sale - apply tax rate via Financial Configuration > Tax Rates
Miscellaneous - apply tax rate via Financial Configuration > Tax Rates