identifying sales tax
Andrew Sackville-West
andrew at farwestbilliards.com
Sun May 15 21:08:01 EDT 2005
you could simply run a profit & loss or income statement and use the
options, select only the tax accounts (and probably their corresponding
parent account, but uncheck the "show all sub-accounts" box) then it
should show a total.
I have some mis-givings about this idea though. It creates a massive
amount of extra accounts just for tracking the sales tax. I think you're
better off doing the double entry idea:
(quoting my self here)
>3, or this wacky one. create both an income and an expense account
>called "Sales tax". then enter your transaction like this (assuming a
>check)
> credit debit
>Groceries 108.25
>checking 108.25
>sales tax in 8.25
>sales tax out 8.25
>
>that way you record 108.25 for groceries expense and 8.25 for sales
tax >expense, but you offset with the income expense.
that way you've only got a couple extra accounts. seems simpler to me.
.02 units of local currency.
A
bri wrote:
> Andrew Sackville-West <andrew <at> farwestbilliards.com> writes:
>
>
>
>>2. you could put a "tax" sub-account under every account then you could
>>report with or without the tax as youlike.
>
>
> OK, this to me looks like the most 'reasonable' - keeps the exepense totals
> correct, tho the bad thing is that each transaction shows up as split, so you
> have to click on it to see what the expense category is. But that's something I
> think I can live with.
>
> But.. whats the best way to get an end of year report of all of these
> Expense:whatever:Sales Tax categories? The only way so far that I can see to get
> a total on expenses is with the pie chart? I don't see that any of the other
> reports that show expenses show a total dollar figure? Or is there one that I'm
> missing? Guess I need to go thru and learn how to make my own reports.. I know -
> and when I get it done, I'll see if anyone else wants it. :-)
>
> .bri.
>
>
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