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Setting up Payments: Currency, Taxes & Payment Processors

In this article, you’ll learn how to set up your payment settings by doing the following:

1. Setting your currency preferences.

2. Connecting to one or more payment processors.

Once your currency and payment processors are set up right for you, you can start accepting payments online, charging credit cards, and recording payment transactions offline.

Your default currency

The default currency you set will be used for your services, invoices, estimates, and online payments.

Here’s how you set your default currency:

Step 1: Go to Settings > Payments on your main menu, and then go to the Payment Processing tab.

Step 2: Under Select your currency, select your desired currency from the Default currency dropdown.

Step 3: Click Save to save your preference.

Important: Make sure that the currency you select is supported by the payment processor you connect with. For example, PayPal does not accept ZAR. You also need to make sure the payment processor you choose is supported in your location of business. For example, Square is available only in select locations. 

Accepting multiple currencies

You may want to receive payments in other currencies besides the default currency you set, or to offer services in different currencies. For example, if your business works with clients from multiple countries.

Here’s how you enable multiple currencies in your account:

Step 1: Go to the Select your currency section described above.

Step 2: Under the Default currency setting, check the box next to My business may accept payments in other currencies.

Step 3: Click Save to save your changes.

Note: Once you enable multiple currencies, a currency dropdown field will appear when creating or editing services, invoices, and estimates. Select the appropriate currency at that time if you do not want the default currency used. See the image below.

Important: When using Square as your payment processor, you should disable these multiple currency options. You will only be able to receive payments in a single currency.

Setting Up Your Taxes

You can add taxes to your services, products, and packages on a few levels:

Adding business-level taxes

  1. First, go to your account's Taxes tab under your Payments Settings Page.
  2. Choose the way you wish the taxes to be displayed on your clients' invoices, estimates, receipts, and your client portal:
    • Prices exclude tax (default for US-based businesses):
      The initial price will be displayed, excluding tax. Tax will be added only at checkout.
    • Prices include tax (default for Non-US-based business):
      The initial price will be displayed, including taxes.
  3. Click on 'Add Tax.'
  4. Enter a name for the new tax you added.
  5. Set the tax rate percentage.
  6. Choose which items this tax will be added to by default (services, products, packages, or all items).
  7. Click save.

Important: Once you click save, you will be asked if you wish to apply the new tax you've added on existing items to any items that don't yet include taxes according to your defined default settings.

Note: Taxes added on the business level settings (by default or not) can be applied across the platform at the point of need. For example, adding taxes that apply to a service when creating an invoice or removing taxes from a specific product when charging a card.

Tip: Use the export button on your payments pages to export your tax information to your accounting software or any other third party. 

Adding custom taxes for catalog items

When creating/editing a service, product, or package, you can define default taxes per a specific item. This option is good if you have a particular item whose regulation requires different taxes from other products you sell.

Note: To create new custom taxes for a specific service, you must first define them on your Payment Settings Page under the Taxes Tab. Make sure you don't save it as default for all services. Once saved, you can add it manually to the relevant service.

Editing Taxes on the point of sale

You can edit taxes ad hoc when adding a product or a package, scheduling a service, or creating an invoice.

  • Remove taxes
  • Add existing taxes
  • Create a new tax

These taxes will apply only for the specific items and the current checkout process and would not be saved for future checkouts.

Note:  In some instances, you'll need to go to the taxes settings page to add a new tax and then return and add it ad hoc on the checkout flow.

Connecting your payment processor

In order to start accepting payments through your account, you need to connect to at least one payment processor.

Here’s how you connect your account to one or several processors:

Step 1: Go to the Settings > Payments in your main menu.

Step 2: Scroll down to Choose your preferred payment methods, click Connect under your desired payment processor.

Important: Businesses located in the US and their profession is listed here are eligible for Payments by inTandem Gateway, which is fully integrated into your business activity in the product.

Step 3: If you connect to more than one credit card processor, you need to make one of them active by clicking on the appropriate radio button.

The image below displays an account that is connected to
Square, Stripe & PayPal. Stripe is selected as the active processor for credit card payments:


Step 4: Click Save on top to save your settings.

Note: In the example you see above, your client will have the option of paying either with Square or PayPal at checkout.
Note: For information on how your currency affects online payments and charges, see the Currency sections at the beginning of this article.
Learn more: For detailed information on your different payment processing options, go to the Accepting Online Payments article.
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