HST on cash purchase

Maf. King maf at chilwell.net
Sat Jan 8 16:58:49 EST 2011

On Saturday 08 January 2011 21:55:23 Maf. King wrote:
> On Saturday 08 January 2011 21:10:28 Bert de Haan wrote:
> > I purchased gas for my company truck.  When I entered it as an
> > expense, the total, including the tax is entered as an expense. I want
> > it separated because I can claim a refund on the tax.  In order to
> > accomplish this I entered it as a bill first and then processed the
> > payment.  Now the gas and the tax are entered as separate expenses.
> > Do I have to go through this process or is there another way to do the
> > same thing?
> > Can I use the same program to keep personal financial records and
> > business records?  In which case I would have to treat gas purchased
> > for the family vehicle differently from the truck.
> Hi Bert
> You have entered this purchase via the Vendor->New Bill path, correct?
> There are things called "Tax Tables", which you can set up from the
> Business->Edit Tax Tables menu entry.  These let you specify rates at which
> sales tax is calculated and split it off to it's own account.
> Note that Sales Tax you have paid, but are going to later reclaim is not an
> expense, but an asset (Your money is being "looked after" by someone else)
> IIRC, the docs. are fairly good about the process of setting up tax tables,
> when I was getting started with GC, I found this posting to be useful; it
> is specifically about UK VAT, but I'm sure that it is adaptable to your
> needs. see:
> https://lists.gnucash.org/pipermail/gnucash-user/2003-July/007562.html
> (don't worry if you get a message about untrusted SSL certificate or
> similar - that's a whole other topic!)

Ooops, try this linky instead:


> Maf.

Maf. King
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