If a Scheduled Value is marked as Taxable, the applicable tax will be displayed for that line item on the Scheduled Values tab.
SedonaOffice automatically handles tax calculations for AIA Style Billing Applications.
AIA Style Billing Application – Continuation Sheet
When an amount is entered in Column E – Work Completed, the system automatically treats the entered amount as tax-inclusive when generating the AIA Billing Application. No additional tax will be calculated or added to the amount entered.
EXAMPLE: A Scheduled Value is $1,000 and the Tax is $155.
When a new Billing Application is created, Column C – Scheduled Value (Tax Included) displays the total amount for each line item, including both the Scheduled Value and the applicable Tax.
In this example, the Total amount displayed in Column C – Scheduled Value (Tax Included) is $1,155.
If $500.00 is entered in Column E – Work Completed, the system treats the amount as tax-inclusive.
When the AIA Billing Application is generated, the invoice displays a Scheduled Value of $432.90 and Tax of $67.10, resulting in a total billed amount of $500.00.
