Where do I set taxes, payment terms and invoice defaults?
Short answer
Finance Settings holds tax codes, contract terms, purchase order rules, company credit cards, invoice defaults, holdback and price book product defaults.
On this page
Settings > Business > Finance Settings (/a/settings/finances) is the single place for finance configuration. It requires the Administrator role and the Finances module.
Before you start / permissions
- Administrator role, and Finances must be part of your plan.
- Invoices, Purchase Orders and Vendor Credits also need their toggles switched on at
/a/settings/company?tab=features.
The tabs
| Tab | What it controls | Link |
|---|---|---|
| Tax Rates | Tax codes and combined tax codes used on POs, bills, invoices and credits | ?tab=tax-rates |
| Contract Terms | Default payment due, payment terms and terms & conditions (Fixed Price, T&M, default) | ?tab=contract-terms |
| Purchase Orders | PO numbering, approval thresholds, field-employee access, AI invoice scanning | ?tab=purchase-orders |
| Credit Cards | Company cards available for PO and reimbursement payment | ?tab=credit-cards |
| Invoices | Invoice defaults: payment due, notes, header and footer text, CC email, numbering | ?tab=invoices |
| Holdback / Retainage | Jurisdiction, default percentage, release days, terminology, tax method | ?tab=holdback |
| Products | Price book product defaults, including default product margin | ?tab=products |
Notes and limits
- Tax codes support multiple components, so a combined code (for example a federal plus provincial rate) is defined once and reused on POs, bills, invoices and credits.
- Allow Field Employees to Create POs lives on the Purchase Orders tab; a related Require budget on quick PO setting appears once it is on.
- Holdback terminology and tax method are jurisdiction-specific — set them before issuing invoices that carry holdback.
- Defaults apply to new records; existing invoices and POs keep the values they were created with.
Frequently asked questions
Where do I add a tax code?
Settings > Business > Finance Settings > Tax Rates (/a/settings/finances?tab=tax-rates). Tax codes support multiple components, so combined rates are defined once and reused on POs, bills, invoices and credits.
How do I change invoice numbering or default payment terms?
Invoice numbering, default payment due, notes, header and footer text and CC email are on the Invoices tab; contract-level payment terms are on Contract Terms.
How do I let field employees raise purchase orders?
Finance Settings > Purchase Orders > Allow Field Employees to Create POs. Once it is on, a Require budget on quick PO setting also appears.
Where is holdback or retainage configured?
Finance Settings > Holdback / Retainage — jurisdiction, default percentage, release days, terminology and tax method.
Why can I not see Finance Settings?
It requires the Administrator role and the Finances module in your plan.
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Last verified September 1, 2026