Just to confirm clearly to Pete. What i did, which was to "edit the invoice to show 20.00 for Consulting revenue with Taxable set and with Tax included set to NO, and set Tax table = Consulting Sales Tax", and then post it, created net income of 18.69 (which I could see in the Income Statement) and Sales Tax liability/payable of 1.31, and it created Account Receivable of $20.00. Then I further recorded receipt of $20 cash against the invoice. And then the Balance Sheet showed the $20 cash and the $1.31 of Sales Tax liability/payable. Like you have been saying, the 1.31 should not add to net income. And like the others are saying, GnuCash can handle it correctly. So you must not be implementing it correctly.
Pete, I think you should try again and set up a new invoice and then post it, and then look at the income statement and the balance sheet. If that still doesn't work, then to figure out what is going wrong for you, I wouldn't mind corresponding separately or talking you through the sequence of transactions on the telephone while we are both at GnuCash on our computers, if you are in the U.S. and if you email me your phone number privately (don't email it to the gnucash-user list). Or you could phone me, if we set it up in private email. Don On Mon, May 22, 2017 at 4:11 AM, Maf. King <[email protected]> wrote: > On Monday, 22 May 2017 01:11:31 BST P M wrote: > > Thank you. I think I am doing what you have done. My problem is > > understanding why the 1.31 adds to Net Income instead of takes away from > it > > when you create an income statement. It seems like sales tax would take > > away from net income, no? Is that what yours does? > > > > > > Hi Pete, > > Your net income is £18.69. If you've got the sales tax account set up > properly and are using a tax table as outlined in the docs, you shouldn't > see > 1.31 on an income report - because it is neither income nor expense, it is > a > liability. > > Maf. > > > _______________________________________________ gnucash-user mailing list [email protected] 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.
