Sales Tax on sales is *not* an expense or revenue. You shouldn’t need to balance it against anything. It’s a pass-through liability.‡ It should have no bearing on your books other than you have to collect it and remit it.
Note, if you are in a VAT jurisdiction and you are reimbursing for services, product or materials that will be resold/incorporated into a final product, then you have a complication with tracking the VAT paid on those expenses. (which there is another thread on the list in the last 3-4 months about as I mentioned.) Sales Tax on purchases *is* an expense, you just record it in a regular expense account.‡ Regards, Adrien ‡p.s. - be sure to verify these with a local CPA familiar with your jurisdiction. The above is general practice in the U.S. > On May 22, 2018, at 6:21 PM, Matthew Pounsett <m...@conundrum.com> wrote: > > On 22 May 2018 at 18:59, Rich Shepard <rshep...@appl-ecosys.com> wrote: > >> I'm confused by the above. Do you get a bill from a vendor (e.g., Office >> Depot) for something, and an expense voucher from an employee for the same >> item? >> > > No, I have an expense item from an employee which they need to be > reimbursed for. The employee includes as part of their expense report a > receipt from the original vendor, which I'd like to track as a bill (for > the reasons stated in my first email). > > You mentioned you don't have employees... in your region can you get to > balance sales tax from purchases against sales tax from sales? If so, how > do you track an out of pocket expense that your corporation needs to > reimburse you for when there are sales taxes involved? > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > ----- > 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 To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
