Advice: Recording sales tax
Stewart V. Wright
swright at physics.adelaide.edu.au
Wed Dec 1 14:32:40 EST 2004
Hi,
I was wondering if people could tell me how they enter a split
transaction when sales tax is added at the end of the transaction.
The countries I have previous lived in have included the various taxes
in the quoted prices of goods - however, now as I live in the US I get
a receipt like the following:
Floor Mats 15.68
Aspirin 0.94
Tax 1 5.75% 0.85
Tax 2 2.00% 0.31
Total 16.84
Now, I want to enter the "Floor Mats" cost in my Expenses:Car:Maintenance
and the Aspirin in my Expenses:Medical accounts. However what is the
best way to enter the tax?
Simply adding the tax to Expenses:Tax doesn't really work as if I
purchase something (and don't get a receipt) I only know the total I
paid for it and thus enter the whole amount in the appropriate
account...
Do people just split the tax between the various goods? i.e. Enter
the Floor Mats price as 16.84*15.68/(15.68+0.94) ???
Any advice or comments would be greatly appreciated.
Cheers,
S.
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