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Posted by Manuel Davila on October 10, 2006, 9:25 am
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Laura,
I'm getting different results than you; when i click icon "Pay Sales Tax"
there is the sales tax ready to be paid. I took five screen shots (invoice,
chart of accounts, item details, ST Liability Report, and Pay Sales Tax). I
think it would be a good idea for you to look at them to see what is
different. I'll be glad to send them to you and to hear your comments (my
email: medavila@atscomputes.com)
> Take a look at your sales tax payable account. when I set the tax code at
> taxable it resulted in zero balance and zero tax. I had to change my
> discount to Non tax in order to get the sales tax payable to be correct.
>
> Unfortunately, this does leave an A/R balance so I guess we are back to
> the drawing board. I had a similar issue this summer at work (liquor
> store)-the boss purchased items (wine) for promos and charged them to her
> house account. The only way I could figure out how to clear the balance
> and get the charges over to expense (advertising) was to clear the balance
> by paying the account using the company credit card. It's an issue of
> credits vs debits and the only way I could get this corrected was to have
> the company pay the bill just like they were a customer. Not very elegant
> but it did work.
>
>> Be sure that you leave under "Tax Code: [TAX} discount is applied before
>> Tax" in the edit item (discount) window, do not check NON.
>> Gotta go nit-nite, the Boss is calling
>>
>>> How did you set up the discount?
>>> I used QB Discount account, which by the way does not let you enter
>>> quantity and when you enter the amount in "discount rate" it will put it
>>> automatically in -X format.
>>>
>>> If you want I can send u a copy of the invoice to you email. Mine is
>>> (medavila@atscomputes.com).
>>>
>>>> You just lost me. I put in the discount amount of 100% it picked up
>>>> just the 100 but left the balance of the sales tax calculated at the
>>>> bottom. That amount is still due in my test.
>>>>
>>>>>
>>>>> No. no, QB (2006) is smart enough to keep the sales TAX!!
>>>>> This is uncle SAM's trick: you can discount the whole thing except of
>>>>> ourse you still have to pay the Tax :-)
>>>>> Just tried and you'll see
>>>>>
>>>>>
>>>>>> How did you get the Discount to include the tax amount? Is the tax
>>>>>> line manually added or calculated at the bottom of the invoice?
>>>>>>
>>>>>>> Laura,
>>>>>>>
>>>>>>> Thank you for taking the time to test the routine. If you discount
>>>>>>> the full total of the invoice (as non-taxable) then the invoice will
>>>>>>> show as paid in full, hence no need to create a bill to pay it.
>>>>>>>
>>>>>>> Material: 100.00
>>>>>>> Disc: -110.00 (non taxable)
>>>>>>> Tax 10.00 (was still kept in the invoice!)
>>>>>>> Total 0.00 (invoice paid in full, no need to create a
>>>>>>> bill)
>>>>>>>
>>>>>>>
>>>>>>>
>>>>>>> This is the exact result desired:
>>>>>>>
>>>>>>> 1.. No need to create a second redundant transaction to paid the
>>>>>>> bill
>>>>>>> 2.. The ST will still show in the Tax Liability
>>>>>>> 3.. Transaction can be tracked
>>>>>>> Thanks again,
>>>>>>> Manuel
>>>>>>>
>>>>>>>
>>>>>>>
>>>>>>>>I tested out the Discount routine and it looks like it works
>>>>>>>>perfectly. I did have to redit the item and change it to be
>>>>>>>>non-taxable for it to work right. I can't see any issues with it
>>>>>>>>especially since you probably should not be showing this as income
>>>>>>>>to the company in the first place. Using this discount method
>>>>>>>>eliminates this problem.
>>>>>>>>
>>>>>>>> I do have one correction to your example. My testing came out to
>>>>>>>> the following:
>>>>>>>>
>>>>>>>> Original Invoice was:
>>>>>>>>
>>>>>>>> Material 100.00
>>>>>>>> Tax 10.00
>>>>>>>> Total 110.00
>>>>>>>>
>>>>>>>> Invoice with total amount discounted:
>>>>>>>>
>>>>>>>> Material: 100.00
>>>>>>>> Disc: -100.00 (non taxable)
>>>>>>>> Tax 10.00 (was still kept in the invoice!)
>>>>>>>> Total 10.00 (sales tax only)
>>>>>>>>
>>>>>>>> This leaves the sales tax liability that you are looking for plus
>>>>>>>> removes the sale of the materials that you should not be showing on
>>>>>>>> the books.
>>>>>>>>
>>>>>>>>> Laura,
>>>>>>>>>
>>>>>>>>> Thank you so much for the answer. All my items are Non-Inventory,
>>>>>>>>> so no problem having to update the stock. Pursuing the new
>>>>>>>>> customer avenue and of course entering the invoice items at cost
>>>>>>>>> there is no problem. But, to pay the Invoice will require that the
>>>>>>>>> company must be set as a Vendor as well, correct? Do I have to
>>>>>>>>> write a check? Can the bill (invoice) be paid otherwise without
>>>>>>>>> having to use the bank register?
>>>>>>>>>
>>>>>>>>>
>>>>>>>>>
>>>>>>>>> How about if I create an item called discount (or Company Use)
>>>>>>>>> then posting it in the invoice discounting 100% the Total value of
>>>>>>>>> the invoice? I tried that and indeed the tax appeared in the Sales
>>>>>>>>> Tax Liability report!
>>>>>>>>>
>>>>>>>>>
>>>>>>>>>
>>>>>>>>> Example:
>>>>>>>>>
>>>>>>>>> Original Invoice was:
>>>>>>>>>
>>>>>>>>> Material 100.00
>>>>>>>>>
>>>>>>>>> Tax 10.00
>>>>>>>>>
>>>>>>>>> Total 110.00
>>>>>>>>>
>>>>>>>>>
>>>>>>>>>
>>>>>>>>> Invoice with total amount discounted:
>>>>>>>>>
>>>>>>>>> Material: 100.00
>>>>>>>>>
>>>>>>>>> Disc: -110.00 (new line)
>>>>>>>>>
>>>>>>>>> Tax 10.00 (was still kept in the invoice!)
>>>>>>>>>
>>>>>>>>> Total 0.00 (total is now 0)
>>>>>>>>>
>>>>>>>>>
>>>>>>>>>
>>>>>>>>> Is this orthodox or it will cause other problems?
>>>>>>>>>
>>>>>>>>>
>>>>>>>>>
>>>>>>>>> TIA
>>>>>>>>>
>>>>>>>>> Manuel
>>>>>>>>>
>>>>>>>>>
>>>>>>>>>
>>>>>>>>>>> Hello Group,
>>>>>>>>>>> How to pay the State Sales & Use Tax for material that was
>>>>>>>>>>> purchased with resale tax-exempt status.
>>>>>>>>>>>
>>>>>>>>>>> Here is the situation: I run a small computer business. I built
>>>>>>>>>>> a Computer for the company using tax exempt parts.
>>>>>>>>>>>
>>>>>>>>>>> Now I have to pay the "Sales and Use Sales Tax" (GA
>>>>>>>>>>> requirement). How can I do that in QB?
>>>>>>>>>>>
>>>>>>>>>>> Should I add my company as a new customer and create an Invoice,
>>>>>>>>>>> and then.?
>>>>>>>>>>>
>>>>>>>>>>> Thanks in advance
>>>>>>>>>>
>>>>>>>>>> That's certainly one way to do it. Treat your company as a
>>>>>>>>>> customer via an invoice. Then just pay that invoice and just
>>>>>>>>>> deposit that check back into the company.
>>>>>>>>>>
>>>>>>>>>> You could also do a journal entry to debit purchases and credit
>>>>>>>>>> sales tax payable. Then just cut a check to the state for the
>>>>>>>>>> accumulated sales tax due. If this is a one time event then you
>>>>>>>>>> could just use Write Checks to the state posting it to the
>>>>>>>>>> purchase account.
>>>>>>>>>>
>>>>>>>>>> If these parts are posted to inventory then I would probably go
>>>>>>>>>> with the customer route so that the inventory is adjusted
>>>>>>>>>> properly. With method 2 you would need to do an inventory
>>>>>>>>>> adjustment to remove those parts used.
>>>>>>>>>>
>>>>>>>>>
>>>>>>>>>
>>>>>>>>
>>>>>>>
>>>>>>>
>>>>>>
>>>>>
>>>>>
>>>>
>>>
>>>
>>
>>
>
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