When I add transactions in AP from for instance the phone company, the tax is already included in the bill from the phone company. So I cross "tax included" and everything seems to be calculated correctly.
However, the tax parts of these amounts are then being accumulated in the 2320 "Current liabilities" account, which is somewhat strange to me (not being an accountant). Having an account to keep track of how much tax I've paid is fine, but I am not sure why it should be listed under current liabilities since it has already been paid as part of the invoice. Have I set something up wrong at my end, or am I just clueless about how these types of taxes are being tracked? I would be less worred if the total liabilities on the balance sheet remained constant regardless of whether I had the tax item in or not, but it does not. If I allow sql-ledger to accumulate taxes in 2320, total liabilities on the balance sheet actually goes down with the sum of whatever is in 2320.. Is this the correct behaviour, and if so why? Is it just to have a place to track inbound taxes versus outbound taxes (of which I have none, which is another story)? Any hints for newbie accountants such as myself? -- Mvh, Marius Kjeldahl
