how to setup tax tables

Brian b_rose at shaw.ca
Mon Oct 4 14:07:10 EDT 2004


> Liabilities
>    |
>     -> GST
>         |
>          ->GST Paid
>          ->GST Payable

Ok.  My Taxes account is a Liability type.

> I set up two Tax Table entries, one called GST, and the other GST
> Paid.  They correspond to the two accounts.

Hmm.  On the business-> Tax Tables window, there 
is Tax Tables and Tax Table Entries.  So, I did this:
Tax Tables -->
    GST --> has Tax Table Entry:
       7% to account-Taxes->GST->GST Collected
    GST Paid -->  has Tax Table Entry:
       7% to account-Taxes->GST->GST Paid

Is this right?

> 
> GST Paid and GST Payable are oppositely signed, 

How do I make an account oppositely signed?

Brian

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