When I'm paying bills I enter the base expense and the PST into the expense account that is applicable and the GST manually, not allowing SQL-Ledger to calculate.
I'm in Manitoba so it's 7% PST and 5% GST. So if I bought something for $100+tax that was "Office Supplies", I would enter under AP Transaction: 100 -> Office Supplies 7 -> Office Supplies (with note of PST) 5 -> GST (uncheck the box so it doesn't calculate automatically and enter manually) You get the same total and it puts the PST under the expense that it's been used. This way at the end of the month you don't have $5k in PST expenses without really knowing what expense account that $5k was. I'm not sure if I'm explaining it clearly, but that's the method I use as an FYI. -- Lenny On Sat, Nov 6, 2010 at 11:59 AM, Ian Durey <[email protected]> wrote: > > Hi, > > I'm confused about tracking and remitting PST in SQL-Ledger. > > In my province I do not get input credits for PST but I notice that > SQL-Ledger tracks PST paid as an input credit in the PST Payable liability > account by default. > > I suspect I should be tracking this as an expense as opposed to offsetting > the liability since I am accountable for the entire collected amount when I > remit PST. I'm not sure how to set this up though. > > Here's what I did: > > Unlinked the default (liability) PST account from Payables > Set up a second PST account as an Expense account and linked it to > Receivables > > PST paid on purchases such as office supplies are now tracked as an > expense. > > When I pay my PST I run a report on the PST payable account and enter a GL > entry: > > Chequing Account: Credit pst_amount > PST Payable: Debit pst_amount > > Have I done this right or am I completely out to lunch? > > Thanks, > > Ian > > > > _______________________________________________ > SQL-Ledger mailing list > [email protected] > http://lists.ledger123.com/mailman/listinfo/sql-ledger > >
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