Sales tax and GST (Goods and Services Tax)

[John]

Thank you both, for your detailed and prompt reply. Much appreciated.

I am new to gnucash and it is great to have somewhere to ask questions.

Thanks again
John

On 29/06/2016 9:13 a.m., Geert Janssens wrote:
>
> On Tuesday 28 June 2016 16:58:27 Aaron Laws wrote:
>
> > On Tue, Jun 28, 2016 at 12:01 AM, John <john535458 at gmail.com> wrote:
>
> > > Hi,
>
> > > I can't see how to set up GNUCASH to track transaction taxes like
>
> > > Sales Tax and GST.
>
> > >
>
> > > Is it possible?
>
> > >
>
> > > Thanks
>
> > > John
>
> >
>
> > I don't think it can be done automatically as gnucash doesn't know
>
> > what is taxable at what rate.
>
> That's what the business features are for. It's a trade-off though. If 
> you want to track taxes you will need to enter invoices and bills as 
> well. You can set up tax tables for various tax rates and assign 
> default tax tables per vendor or customer. Then when you enter 
> invoices and bills, gnucash will suggest that default tax table for 
> each entry on the document. You can override it at all times if some 
> lines don't follow the default. This is documented in the gnucash 
> documentation under "Accounts Receivable" and "Accounts Payable".
>
> If the overhead of tracking invoices/bills/payments is overkill, you 
> will indeed have to do it manually. As Aaron suggests, you can use 
> multi-split transactions to do so.
>
> Regards,
>
> Geert
>