Right, i must have misspoken. Set Tax included to Yes so that it understands tax is included in the $20. Thanks for noting that. Pete replied by separate email that he will try all this later, after a few days busy with something else. --Doncram
On Tue, May 23, 2017 at 5:36 PM, Adrien Monteleone < adrien.montele...@gmail.com> wrote: > > > On May 23, 2017, at 10:42 AM, Derek Atkins <warl...@mit.edu> wrote: > > > > Hi, > > > > doncram <donc...@gmail.com> writes: > > > >> Just to confirm clearly to Pete. What i did, which was to "edit the > >> invoice to show 20.00 for Consulting revenue with Taxable set and with > Tax > >> included set to NO, and set Tax table = Consulting Sales Tax", and then > > > > Are you sure you set Tax Included to "NO"? With that setting gnucash > > should add the tax on top, which means at 7% on $20.00 you would get > > Income:Sales of $20.00 and Tax Withheld of $1.40, for a total in A/R of > > $21.40. > > > > With Tax Included set to YES then it tells gnucash that the taxes are > > included in the $20 value so you'd get your $18.69 Income:Sales and > > $1.31 Tax Withheld, with $20 in A/R. > > That’s the behavior I’m getting too in test invoices, which is why I noted > to set to “yes” in my previous reply. Not sure how doncram’s getting the > opposite effect. > > > > >> post it, created net income of 18.69 (which I could see in the Income > >> Statement) and Sales Tax liability/payable of 1.31, and it created > Account > >> Receivable of $20.00. Then I further recorded receipt of $20 cash > against > >> the invoice. And then the Balance Sheet showed the $20 cash and the > $1.31 > >> of Sales Tax liability/payable. Like you have been saying, the 1.31 > should > >> not add to net income. And like the others are saying, GnuCash can > handle > >> it correctly. So you must not be implementing it correctly. > > > >> Please remember to CC this list on all your replies. > >> You can do this by using Reply-To-List or Reply-All. > > > > -derek > > > > -- > > Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory > > Member, MIT Student Information Processing Board (SIPB) > > URL: http://web.mit.edu/warlord/ PP-ASEL-IA N1NWH > > warl...@mit.edu PGP key available > > _______________________________________________ > > gnucash-user mailing list > > gnucash-user@gnucash.org > > https://lists.gnucash.org/mailman/listinfo/gnucash-user > > ----- > > Please remember to CC this list on all your replies. > > You can do this by using Reply-To-List or Reply-All. > > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > https://lists.gnucash.org/mailman/listinfo/gnucash-user > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
