Okay. With year-end coming up I'm not looking to make major changes in the past, but I'd like to account for everything properly in the future.
Say I purchase $100 in printing supplies (paper, ink, etc.) from a local vendor. The IRS wants me to account for taxes in the value of items purchased. So I add an entry for $108.25 (8.25% local tax), and the full value goes into my "Expenses:Business Expenses:Office Supplies" account. Fine. Now, suppose I purchase that $100 in supplies from an out-of-state vendor who falls under the threshold for reporting sales taxes to Texas (rhyming couplet there?) and so does not charge me sales tax on the purchase. The law says that I have to pay a sales/use tax on the purchase anyhow. Fine, I have a liability account set up for "Sales Taxes Payable" which I normally use for the sales I make to customers; once a quarter I total this up and send a check in to the comptroller. No problem at all to do so with my online purchase, but the $8.25 which I pay at the end of the quarter doesn't get added to my Office Supplies purchase, as it should. Finally, suppose I purchase the supplies from a local vendor, who charges tax, but who grants me a "Net 30" for payment and so it goes into my Accounts Payable as a bill. If I use the "Sales Tax Payable" account/tax table for the purchase, my payment for the purchase goes in as a payment on the liability, which is wrong. I can use a separate sales tax table tied to a different account for purchases, in which case it will be recorded as "Expenses:Business Expenses:Business Taxes:Sales Tax Paid", but ideally the $8.25 should have been added to the value of the purchase in "Office Supplies." Is there a quick and elegant solution to this issue which I'm overlooking, but that I could implement for next year? -- --------Eric H. Bowen e...@ehbowen.net <mailto:e...@ehbowen.net> _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.