[GNC] How can I find cost of expenses, including tax?
Dr. David Kirkby
drkirkby at kirkbymicrowave.co.uk
Mon Dec 19 19:46:14 EST 2022
My company is not registered for VAT (tax), but I probably have to pay 20%
VAX (tax) on 75% of the items I buy.
I have the following accounts
Expenses
Expenses -> Stock
Expenses > Office supplies
I can not see how I can determine how much I have spent on stock,
*including* the TAX.
The account Expenses is a placeholder account, but I see that all the VAT
goes in there. So
Expenses -> Stock
has two sorts of transactions in it
1) Items where no tax has been paid
2) The price of items excluding the tax
which seems a bit of a muddle. That’s 100% of the cost of some items, but
80% of the cost of the others.
I can not find the cost (including the tax) from adding up
Expenses
and
Expenses -> Stock
because Expenses will contain the tax paid on Office supplies too.
At the end of the year my accountant will want to know how much I have
spent on stock, but I can’t see a way of exporting the transactions so that
the file contains that information. My accountant would
Expenses -> Stock
but only some things from the placeholder account
Expenses.
I assume that there is a way out of this problem.
Dave
--
Dr. David Kirkby,
Kirkby Microwave Ltd,
drkirkby at kirkbymicrowave.co.uk
https://www.kirkbymicrowave.co.uk/
Telephone 01621-680100./ +44 1621 680100
Registered in England & Wales, company number 08914892.
Registered office:
Stokes Hall Lodge, Burnham Rd, Althorne, Chelmsford, Essex, CM3 6DT, United
Kingdom
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