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 Monteleo
> On May 23, 2017, at 10:42 AM, Derek Atkins wrote:
>
> Hi,
>
> doncram 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 T
Hi,
doncram 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
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
post it, created net income of 18.69 (which I could see in the Income
Statement) a
On Monday, 22 May 2017 01:11:31 BST P M wrote:
> Thank you. I think I am doing what you have done. My problem is
> understanding why the 1.31 adds to Net Income instead of takes away from it
> when you create an income statement. It seems like sales tax would take
> away from net income, no? Is
> Cc: gnucash-user@gnucash.org; P M
> Subject: Re: Understanding taxes and the income statement
>
> Got the tax table to work. Per
> https://www.gnucash.org/docs/v2.6/C/gnucash-help/busnss-ar-setup1.html, the
> way to set up a tax table is under Business select Sales Tax Table, s
?
From: doncram
Sent: Sunday, May 21, 2017 4:07 PM
To: Maf. King
Cc: gnucash-user@gnucash.org; P M
Subject: Re: Understanding taxes and the income statement
Got the tax table to work. Per
https://www.gnucash.org/docs/v2.6/C/gnucash-help/busnss-ar-setup1.html, the way
to set up a tax table
Got the tax table to work. Per
https://www.gnucash.org/docs/v2.6/C/gnucash-help/busnss-ar-setup1.html, the
way to set up a tax table is under Business select Sales Tax Table, select
New. Call this Consulting Sales Tax, set the default type as "Percent",
set the percentage to 7. Then go back and
I try to do what Pete needs, but get stuck where I need to create a Tax
table.
In my test company, I created an Income account for Consulting revenues and
a Liability account for Sales Tax Payable. If I received the $20 in cash I
would want to enter a transaction that would implement the followin
On Sunday, 21 May 2017 00:33:49 BST P M wrote:
> Very basic problem here. I made an invoice for a service that I did. I
> received $20. Where I live I have to charge 7% tax. So the revenue is
> actually $18.69 and the tax is 1.31.My invoice has a subtotal of $18.69
> and a tax of 1.31. I p
Very basic problem here. I made an invoice for a service that I did. I
received $20. Where I live I have to charge 7% tax. So the revenue is
actually $18.69 and the tax is 1.31.My invoice has a subtotal of $18.69 and
a tax of 1.31. I post it and get it paid and for some reason my tax ex
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