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Posted by Golden California Girls on January 7, 2007, 2:23 am
Please log in for more thread options Jimmy wrote:
> Sorry for the panic attack. After further investigation the problem (ok not
> problem but oversight) was a number of "expenses" that were attached to
> customer invoices.
>
Sounds about right. Have a boss that had me put a negative expense on an
invoice to save on taxes. For the IRS it doesn't affect the bottom line, but
for his local tax on gross sales, it doesn't show up.
The boss asked, why don't they match. Uh, you ordered it so! At least it
wasn't a commissioned sales rep!
>> Are there any journal entries or non sales related entries hitting the
>> income account? I would run a detailed transaction report to see if there
>> are any stray transactions posted to that account.
>>
>>> I'm getting ready to pay my sales tax to the state so I ran a P&L
>>> statement for the year and got a figure for my "Total Income" - sales of
>>> goods and services. I then ran the QB Sales Tax report which shows my
>>> "Totals Sales" that is about $500 more than "Total Income" on my P&L. How
>>> can these two figures be different? They are both from Jan 1 through Dec
>>> 31?
>>>
>
>
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