[GNC] How can I find cost of expenses, including tax?

[R Losey]

Could you create:
Expenses->Stock->Items
Expenses->Stock->VAT

?

That way, reports would give you a summary of the Items and the VAT... I
don't recall if they will sum the two for you... they might.



On Mon, Dec 19, 2022 at 6:47 PM Dr. David Kirkby <
drkirkby at kirkbymicrowave.co.uk> wrote:

> 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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-- 
_________________________________
Richard Losey
rlosey at gmail.com
Micah 6:8