I see, that makes sense. I guess that would make it easier to tie into an appropriate GIFI account at the end of the year.
Thanks for the tip. Ian On 6 November 2010 19:26, Lenny Leblanc <[email protected]> wrote: > 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 >> >> > > _______________________________________________ > SQL-Ledger mailing list > [email protected] > http://lists.ledger123.com/mailman/listinfo/sql-ledger > >
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