On 月, 2011-05-16 at 15:00 -0700, Jeff Kaminsky wrote: > I recently noticed that I might have sales tax configured incorrectly > for my income statement. > > I record my sales tax as a liability account until we pay it. > > Receivables = Tax > Payables = Expense/Asset > Tracking Items = Tax (maybe this should be income?) > Non-Tracking Items = Tax (do I even need this checked?)
My sales tax account is the same as this except Payables is also Tax. When I pay the tax, in a GL transaction I credit the checking account and debit the sales tax account. -- Stuart Luppescu -=- slu .at. ccsr.uchicago.edu University of Chicago -=- CCSR 才文と智奈美の父 -=- Kernel 2.6.36-gentoo-r5 Cross posting is sociopathic. -- Roger Koenker R-help (November 2008) _______________________________________________ SQL-Ledger mailing list [email protected] http://lists.ledger123.com/mailman/listinfo/sql-ledger
