Taxable Purchases

Donna Pfeifer donna32132 at yahoo.com
Mon Jul 7 17:51:09 EDT 2014


Thanks to you both for your response. Looks like this one is solved.

:o)








On Monday, July 7, 2014 12:58 PM, Derek Atkins <warlord at MIT.EDU> wrote:
 


Hi Donna,

Sorry for the delayed response -- had a busy weekend.

Again, IANAA but yes, this looks like a good way to record it.

-derek

Donna Pfeifer <donna32132 at yahoo.com> writes:

> Hi Derek, thanks for your response.
>
> I haven't paid the sales tax on the purchase yet as it was from one my
> wholesale vendors for the use of my business rather than for resale as is the
> norm. I am
 required to pay it when I submit the sales tax I collected after
> the end of the month. The amount for 'taxable purchases' is listed separately
> from sales tax collected on the report form so I created a separate account
> for it.
>
> Would the attached image be a better way to record it? This gives me a
> positive balance in the Sales Tax Owed account.
>
> Thanks!
>


More information about the gnucash-user mailing list