On 22 May 2018 at 19:36, Adrien Monteleone <adrien.montele...@lusfiber.net> wrote:
> 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. > Sales tax on sales is a positive liability that needs to be paid to the government. Sales tax on purchases is a negative liability that offsets sales tax on sales, and reduces the amount payable to the government. So, I need to track 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.) > Yes, exactly. See above. _______________________________________________ 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.
