> On Feb 24, 2020 w9d55, at 7:05 PM, Christopher Lam
> wrote:
>
> No private email please.
> I had detailed the posting of AP Bill in the future.
>
> and post a bill, posting date is *01/12/2020*
> 01/12/2020 Use Tax due
> Expense:Use Tax $15
> A/Payable -$15
>
> and in December 2020, clear t
No private email please.
I had detailed the posting of AP Bill in the future.
and post a bill, posting date is *01/12/2020*
01/12/2020 Use Tax due
Expense:Use Tax $15
A/Payable -$15
and in December 2020, clear the AP bill as usual.
On Tue, 25 Feb 2020, 4:55 am Brandon Captain, wrote:
> Thank
Brandon,
What you are doing is basically OK but instead fo using an Accounts Payable
type account for Future
Expense(A/P):MI Use Tax it would be better to have that account of type
Equity as an Accounts Payable type account is a specialized account of type
Liability and incurring the liability to
For your use case you could use AP accounts and bills. Let's assume your
use tax is 15% to be cleared in December 2020.
I'd think, during purchase
24/02/2020 Buy something, will also need to pay use tax
Expense:MI Use Tax +$100
Asset:Bank -$100
and post a bill, posting date is 01/12/2020
31/12/2
> On Feb 22, 2020 w8d53, at 9:45 AM, Brandon Captain wrote:
>
> I make purchases for which I owe state Use Tax on. It's important for me to
> record the Use Tax liability at the time it becomes a liability, but only
> record it as an expense at the time that I pay it.
>
> I have several account
I make purchases for which I owe state Use Tax on. It's important for me to
record the Use Tax liability at the time it becomes a liability, but only
record it as an expense at the time that I pay it.
I have several accounts for this, but the important ones are:
* "Future Expense(A/P):MI Use Tax"
