Re: [GNC] Finding sales tax liability

[Paul Kinzelman]

On 7/10/2021 7:12 PM, Christopher Lam wrote:
The Income GST report has undergone only one significant change: the 
"accounts" option replaced with "sales" and "purchases".

I wasn't using Reports at all. There was a pulldown, I think it was under
Business, maybe next to the current 'Sales Tax Table' item, that would
list the transactions related to sales tax collected. But it's not there 
now.


But I see now Reports | Income & Expense Reports | Income & GST statement,
I think I can select items that will give me
the equivalent. Thank you, I didn't know about that. So I'll use that.


It would be useful if you would disclose your book account structure, 
and the options changed in the report.

I don't know what you're looking for under 'account structure'?
Both Sales and Interest have "tax related" checked. But that's for
income tax forms, not gross receipts, right? If you tell me how
to disclose that, I could do so.
I have an account Income | Sales - that is subject to Gross Receipts tax
and
an account Income | Interest - that is not subject to GRT

You're saying under the GST Report options I need to select
'Sales' and deselect 'Interest', right?


Maybe you had included "interest income" in your sales and need to 
deselect it.

I assume you mean under the Report you suggested? The
Income and GST Statement?
Yes, I deselected it and it seems to work.

Thanks!



On Sat, 10 Jul 2021, 10:36 am Paul Kinzelman, > wrote:


Thank you, but that doesn't really work because it looks like it
lumps sales (which requires Gross Receipts Tax) and interest on
the bank account (which does not). Is there some way to
differentiate this, like some way for interest and any
other income to be separated from actual sales?

It seemed to work just fine previously, was the capability
removed for some reason?

Thanks!
-Paul Kinzelman

On 7/9/2021 4:46 PM, Christopher Lam wrote:

It's likely the Income and GST statement report can be used for
your purposes.

On Tue, 6 Jul 2021, 10:47 pm Paul Kinzelman, mailto:p...@kinzelman.com>> wrote:

This is for a business that sells stuff and keeps track of
sales tax.
At the end of the reporting period, I need a report of the sales
tax owed to the state.

With previous versions it was easy, there was a pull-down item
for getting a report of the sales tax but I can't remember where
exactly it was, I think it was under Business | Vendor or
maybe Actions? But in any event, I can't find it anywhere now,
nor does the documentation seem to help.

How do I find the sales tax accumulated during the reporting
period? And is it in the docs anywhere?

Thanks!


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Re: [GNC] Finding sales tax liability

[Christopher Lam]

The Income GST report has undergone only one significant change: the
"accounts" option replaced with "sales" and "purchases".

It would be useful if you would disclose your book account structure, and
the options changed in the report.

Maybe you had included "interest income" in your sales and need to deselect
it.

On Sat, 10 Jul 2021, 10:36 am Paul Kinzelman,  wrote:

> Thank you, but that doesn't really work because it looks like it
> lumps sales (which requires Gross Receipts Tax) and interest on
> the bank account (which does not). Is there some way to
> differentiate this, like some way for interest and any
> other income to be separated from actual sales?
>
> It seemed to work just fine previously, was the capability
> removed for some reason?
>
> Thanks!
> -Paul Kinzelman
>
> On 7/9/2021 4:46 PM, Christopher Lam wrote:
>
> It's likely the Income and GST statement report can be used for your
> purposes.
>
> On Tue, 6 Jul 2021, 10:47 pm Paul Kinzelman,  wrote:
>
>> This is for a business that sells stuff and keeps track of sales tax.
>> At the end of the reporting period, I need a report of the sales
>> tax owed to the state.
>>
>> With previous versions it was easy, there was a pull-down item
>> for getting a report of the sales tax but I can't remember where
>> exactly it was, I think it was under Business | Vendor or
>> maybe Actions? But in any event, I can't find it anywhere now,
>> nor does the documentation seem to help.
>>
>> How do I find the sales tax accumulated during the reporting
>> period? And is it in the docs anywhere?
>>
>> Thanks!
>>
>>
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>>
>
>
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Re: [GNC] Finding sales tax liability

[Adrien Monteleone]

I'm not familiar with a report that could do this. The practice I'm 
familiar with is booking that sales tax line to a liability account. 
Then you can simply check that balance, or run an account report on it. 
When you pay the tax, you book it against the liability, thus reducing it.


The Income Statement has an Account tab where you can select included 
accounts. Thus, if you don't want to include Interest Earned, don't 
include those income accounts. (or any other non-taxable/non-sales 
revenue/income accounts)


For this purpose, you'd also not likely include any expense accounts as 
those are usually not deductible from a retail sales liability.


You probably should take both approaches because most jurisdictions 
require you to report and pay based on booked sales, but also require 
you to pay everything collected. So if your liability account (what you 
collected from the Customer) is higher than whatever your sales shows it 
should have been, you have to submit that amount. (you can't overcharge 
sales tax and pocket the difference) The same goes the other way. If you 
undercharged, tough luck. You still have to report and pay based on the 
sales you booked.


Check with a local CPA on that last part of course. This isn't legal or 
tax advice here.


Regards,
Adrien

On 7/9/21 9:36 PM, Paul Kinzelman wrote:

Thank you, but that doesn't really work because it looks like it
lumps sales (which requires Gross Receipts Tax) and interest on
the bank account (which does not). Is there some way to
differentiate this, like some way for interest and any
other income to be separated from actual sales?

It seemed to work just fine previously, was the capability
removed for some reason?

Thanks!
-Paul Kinzelman

On 7/9/2021 4:46 PM, Christopher Lam wrote:
It's likely the Income and GST statement report can be used for your 
purposes.


On Tue, 6 Jul 2021, 10:47 pm Paul Kinzelman, > wrote:


    This is for a business that sells stuff and keeps track of sales tax.
    At the end of the reporting period, I need a report of the sales
    tax owed to the state.

    With previous versions it was easy, there was a pull-down item
    for getting a report of the sales tax but I can't remember where
    exactly it was, I think it was under Business | Vendor or
    maybe Actions? But in any event, I can't find it anywhere now,
    nor does the documentation seem to help.

    How do I find the sales tax accumulated during the reporting
    period? And is it in the docs anywhere?

    Thanks!


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Re: [GNC] Finding sales tax liability

[Paul Kinzelman]

Thank you, but that doesn't really work because it looks like it
lumps sales (which requires Gross Receipts Tax) and interest on
the bank account (which does not). Is there some way to
differentiate this, like some way for interest and any
other income to be separated from actual sales?

It seemed to work just fine previously, was the capability
removed for some reason?

Thanks!
-Paul Kinzelman

On 7/9/2021 4:46 PM, Christopher Lam wrote:
It's likely the Income and GST statement report can be used for your 
purposes.


On Tue, 6 Jul 2021, 10:47 pm Paul Kinzelman, > wrote:


This is for a business that sells stuff and keeps track of sales tax.
At the end of the reporting period, I need a report of the sales
tax owed to the state.

With previous versions it was easy, there was a pull-down item
for getting a report of the sales tax but I can't remember where
exactly it was, I think it was under Business | Vendor or
maybe Actions? But in any event, I can't find it anywhere now,
nor does the documentation seem to help.

How do I find the sales tax accumulated during the reporting
period? And is it in the docs anywhere?

Thanks!


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Re: [GNC] Finding sales tax liability

[Christopher Lam]

It's likely the Income and GST statement report can be used for your
purposes.

On Tue, 6 Jul 2021, 10:47 pm Paul Kinzelman,  wrote:

> This is for a business that sells stuff and keeps track of sales tax.
> At the end of the reporting period, I need a report of the sales
> tax owed to the state.
>
> With previous versions it was easy, there was a pull-down item
> for getting a report of the sales tax but I can't remember where
> exactly it was, I think it was under Business | Vendor or
> maybe Actions? But in any event, I can't find it anywhere now,
> nor does the documentation seem to help.
>
> How do I find the sales tax accumulated during the reporting
> period? And is it in the docs anywhere?
>
> Thanks!
>
>
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> To update your subscription preferences or to unsubscribe:
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