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Sales tax on purchases
- Subject: Sales tax on purchases
- From: "Matt Jackson" <..hidden..>
- Date: Wed, 14 Mar 2007 20:32:38 -0400
I am entering old Vendor Invoices so that I can "relive" my past year (which has gone unaccounted for) for tax purposes.
1. went to AP > Vendor Invoice
2. Added all items and their quantites and then-current prices
3. Put in the correct purchase date info. Set Invoice date and due date to same day (I pre-paid for this stuff last year)
4. I noticed that account 5010 is Freight, an expense, so I figured the freight costs will be entered later in the process? Put nothing in this Vendor Invoice to reflect any sort of shipping costs.
5. They charge me a percentage for using a credit card. Did not enter that. All that shows up is the raw cost of the items.
6. Hit "Post"
My immediate problem is that now for some reason I have a $17.34 charge in Taxes - which I mean to use to reflect taxes paid *by customers* in my state, not by me to my suppliers. I don't pay taxes to them.
Any idea how to remove this "expense" and rectify this for the future?