I suggest you involve your accountant on this subject.
On 12/27/20 9:41 AM, Eric H. Bowen via gnucash-user wrote:
See, they /shouldn't /be (accounted separately), but in case 2 (taxes
paid separately to state at end of quarter) and case 3 (entered as a
vendor bill) there doesn't appear to be a
See, they /shouldn't /be (accounted separately), but in case 2 (taxes
paid separately to state at end of quarter) and case 3 (entered as a
vendor bill) there doesn't appear to be a simple way to redirect the
taxes to the cost of supplies. Unless I'm missing it. Suggestions?Eric.
On
Additional thoughts: If you are paying sales taxes on items for resale
(assuming you cannot purchase without sales taxes) then the sales taxes
become part of cost of goods sold.
Les
On 12/26/20 6:49 PM, Eric H. Bowen via gnucash-user wrote:
Okay. With year-end coming up I'm not looking to
I am not an account so.. However, if you are purchasing items for
resale in Texas, you can obtain a resale certificate from the local
county, which allows you to purchase these items without paying sales
taxes. You do not state the type of organization you are using for your
business, but it
All of these examples appear to be supplies for the business to use (vs
items purchased for selling). Why would the cost of the taxes paid need to
be account for separately from the cost of the items?
Kind regards, Greg Feneis
(Pixel 3)
On Sat, Dec 26, 2020, 16:52 Eric H. Bowen via gnucash-user
