Beginner questions

[Bert de Haan]

Thank you John.  I think I understand but I don't know how to enter
it.  I entered an invoice of $187.5 with $28.13 HST.  The invoice is
past due so I posted it to A/R.  The total amount of $211.88 is now in
A/R. I think that is correct (is it?) The HST is now listed as an
expense but I want it as a Liability.  How do I change that?
When I enter a bill to be paid, HST should be an expense right?

Thanks again
Bert de Haan

On Fri, Jan 7, 2011 at 11:20 PM, John Edwards <jedwards80 at gmail.com> wrote:
> Bert,
>
> Sales tax collected is not income, it's a liability.
>
> If you sell something for $100 + 15% HST, the entry would be this:
>
> Debit:  Assets:Cash* .... 115
>  Credit: Revenue:Sales ........100
>  Credit: Liability:HST owing ...15
>
> *-this is whatever account you're using, probably your chequing account.
>
> John
>
> John Edwards
> Sent wirelessly from my BlackBerry device on the Bell network.Envoyé sans fil par mon terminal mobile BlackBerry sur le réseau de Bell.
>
> -----Original Message-----
> From: Bert de Haan <benchmarkhis at gmail.com>
> Sender: gnucash-user-bounces at gnucash.org
> Date: Fri, 7 Jan 2011 22:33:05
> To: <gnucash-user at gnucash.org>
> Subject: Beginner questions
>
> Hi all.  I just downloaded the program a few days ago and had a few
> hours to play with it.  I am somewhat familiar with Quickbooks but
> these programs aren't that similar.
> I have two questions.
> 1. In the area directly below the icons "Save", "Close", "Open",
> "Edit". "New", "Delete" is a list of tabs of all the things I have
> done or accessed.  For instance, I tried entering an invoice a couple
> of times.  Now I have three tabs "Edit invoice-44."  Can I get rid of
> them or will they just get replaced with other actions?
> 2.  The tax I collect on a sale should get added to income and to
> liabilities, correct?  How do I do that?
> Right now I have it set up that the tax is entered as an expense but
> that would not be correct for a sale, that would be for a purchase.
> Can someone help me out?  Thanks a lot.
>
> --
> Bert de Haan
> Benchmark Home Inspection Services
> (519) 362-2455
> 464 Domville Street Arthur Ontario N0G 1A0
> www.kitchenerwaterloohomeinspector.ca
> 100-Day Inspection Warranty
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-- 
Bert de Haan
Benchmark Home Inspection Services
(519) 362-2455
464 Domville Street Arthur Ontario N0G 1A0
www.kitchenerwaterloohomeinspector.ca
100-Day Inspection Warranty