A sellos tax is a type of local government tax that's charged on an unpaid balance after the due date.

There are two options for creating a sellos tax.

• The first option is to create a new accrual type for the tax. To do this, open a service request for the Pismo team to configure the new accrual type for your program. The service request just needs to include the name for the accrual type (SELLOS_TAX for example).
• The second option is to use the existing FINANCIAL_TAX accrual type for the sellos tax.

Whichever option you choose, once you have the accrual type that you’re going to use, you need to configure an accrual type rate for it. To do this, associate the accrual type with a transaction category to configure the rate at the program level. If you need to create a new transaction category for this, use the Create transaction category endpoint. The ID of the new category is returned in the id field of the response. If you want to use an existing transaction category, use the List program transaction types endpoint to find its ID. Once you have the ID for the transaction category, apply the accrual type rate using the Configure program interest rates endpoint.

Optionally, you can also configure the rate at the account level by associating it with an account transaction category. To do this, first configure the rate at the program level, using the above steps, then use the Configure account interest rates endpoint to configure it at the account level.

For more information, refer to Configuring accrual rates.

Setting the minimum amount for a sellos tax

Depending on the rules in your jurisdiction, you might also need to set a minimum amount for the sellos tax. Then, when the Pismo platform calculates the tax for an overdue balance, it compares the result to this minimum value and uses whichever amount is greater.

To set a minimum amount for a sellos tax, use the Pismo Control Center to set the Enables minimum value rule for posting accruals at the closing cycle moment program parameter to true. Then use the Configure minimum value by accrual type endpoint to configure the minimum value.