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

Maf. King maf at chilwell.net
Wed Dec 21 00:53:22 EST 2022


On Wednesday, 21 December 2022 05:24:01 GMT Dr. David Kirkby wrote:
> looks potentially interesting. This post
> 
> https://lists.gnucash.org/pipermail/gnucash-user/2003-July/007526.html
> 
> probably explains what these boxes are.

Yeah, that's what I used to get GC set up for VAT many years ago.

the "boxes" are the lines on the VAT return form.... from Memory, box 1,2 are 
the VAT you have charged on your invoices, box 4 is the VAT you've paid to 
suppliers, 3 & 5 are calculated values.

6-9 are the total for various categories of sales/purchases.


> Unfortunately turnover is not going to force me to need to register😢😢😢,
> but it might make sense to. Currently 90% of what I buy has VAT on it, but
> only 10% of what I produce goes to the UK.

it has always been the case that being an unregistered "middleman" between vat 
registered suppliers and vat registered customers is an expensive place to be.


> another top-level of accounts is produced for VAT, so one has 6 categories,
> not the usual 5.

I think that as I decided that I would mostly owe VAT, I folded my VAT 
collection accounts into the liability branch.....Assets may be a better 
choice for you.

Speak to your acountant and get some professional opinion on this.  

regards,
Maf.





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