On Thu, Oct 2, 2014 at 7:30 AM, Mike Charlton <[email protected]> wrote:
> I don't meant to tell you what you should do with your own accounts :-) I > wonder, though, shouldn't you put in the GST that you actually paid? I'm > guessing that you are Canadian (me too :-) ) The GST that you paid should > be on the bill if you are in BC. > > If you are trying to calculate the GST portion of the HST (for caculating > what GST you have already paid on items that you are selling on???), then I > *highly* recommend using the: > > ($127.75 * 0.5) > > notation rather than putting in the actual amount. If you don't, you > *will* get rounding errors. Although I can understand your desire to see > the actual numbers in your ledger, it's probably more important not to have > rounding errors. > > The issue is complicated because some items also have the PST but some do not. I think that vendor adds all amounts for a specific tax - - - then that specific tax amount is created. Then the second tax list is created - - - and an amount is specified. Then the subtotal of all items is created. Finally the taxes are printed with the Total now being shown. When the items are treated separately the tax amounts will result in small changes. In my case it was $0.01 in about $275 which is an actual error of about 4 thousandths of a percent. The concern was because when a ledger doesn't balance finding the issue is a pain. My procedure will be that any complex transaction will need to balance before any further recording is done. (I had developed a double-entry system for spreadsheet use and had this for checks and balances so its no great hardship.) Thanks for the help! Dee -- --- You received this message because you are subscribed to the Google Groups "Ledger" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
