Michael, If I’m not mistaken, Ted mentioned that he was looking for income & liabilities report.
Hence my caveat - if the user followed instructions in the guide to setup tax tables and appropriate accounts, the report I mentioned could meet his requirements. In fact, before Income & GST Statement was introduced as part of standard reports, I was doing something similar when India was still under Sales Tax regime. I think at the time, the Transaction Report options had to be tweaked to produce something similar to the standard report now. By income, I presume Ted means net income after accounting for sales tax liability. Cheers. =================================== Date: Thu, 9 May 2024 09:52:49 -0400 From: Michael or Penny Novack <stepbystepf...@comcast.net> To: gnucash-user@gnucash.org Subject: Re: [GNC] sales tax liability report? Message-ID: <44cd4d3d-502e-45cb-8a95-62cd472c5...@comcast.net> Content-Type: text/plain; charset=UTF-8; format=flowed On 5/9/2024 2:57 AM, Deva via gnucash-user wrote: > Ted, > > If you have setup your accounts based on suggestions in the tutorial and > concepts guide, you can try the following report - > > Reports -> Income & Expense -> Income and GST Statement > > In your case, GST = Sales Tax We MIGHT need a clarification, but my sense was that the sales tax amounts collected but not yet sent to the gov't were (correctly) being credited to a liability, not an income account. So would not show up as an account under an I&E report. In other words, the amount collected (on behalf of some gov't) not being considered income so when paid to the gov't not an expense. Never YOUR money, just holding it for the gov't till sent, quarterly, or whatever. Maybe what we want here is a better description of the report that is wanted? What is it supposed to show?. For example, were I running a business that was collecting sales tax for many states, I'd probably want a report showing how much I owed each << and I think I would be using part of a Balance Sheet report to get that (ignore the rest of it). in other words, I'd have a parent under liabilities "sales tax owed" under which a child for each jurisdiction. Run each quarter (or whatever) looking at JUST this parent and its children to see what payment to make to each jurisdiction >> Michael D Novack _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
