Sales Tax recording

[Youssef Ltaief]

I track purchase taxes by having an account called "Purchase Tax" under Expenses. When I enter any receipt, I create a split transaction to account for the charged taxes.
For your case you would do the same but under the Assets account.

Youssef



----- Original Message ----
From: Gerard <gerardmcelroy at eircom.net>
To: gnucash-user at lists.gnucash.org
Sent: Wednesday, October 15, 2008 7:55:16 AM
Subject: Sales Tax recording

When I generate a sales invoice or a purchase invoice, I add VAT @ 21% to the nett total
    When I post to Accounts Receivable and Sales Account, these accounts record the full
    sales and purchases amounts incl of Vat. I don't understand the process of recording or 
splitting nett amounts from the Tax amounts, How do I set up separate accts to record nett sales
    and a separate Vat account for Sales & purchases. I thought GnuCash did this automatically.
    I went thro' the help tutorials but can't find what I am looking for
Looking forward to some assistance, 

Gerard
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