On Sun, Feb 21, 2010 at 12:22 PM, Janeks<..hidden..> wrote:
Something like that. But I am not sure do we need in this case to track
the tax when invoice was sent, but of course we need to show on invoice
tax to be paid.
Well, consider the following issue:
Tax rate changes effective some date (say, 2010-06-01).
You invoice before that date, and get paid after.
If you aren't storing the taxes listed on the invoice, you don't have
a record in your books of what you told them they had to pay.
My accountant offered the system when upon invoicing all amount
(base+tax) is booked into "do not paid yet" acount.
When it is paid then all is moved accordingly.
Well, my thinking was this:
On "due after receipt" taxes, you would have two tax accounts. Both
would be liability accounts.
The first would be a "tax uncollected" account, tracking tax on the invoice.
The payment would move the money from "tax uncollected" to "tax
collected." The movement would be proportional to the portion of the
outstanding amount paid.
(1.3 is still in beta testing. I would not recommend upgrading
production systems to it without taking to me first. However, it
looks like it should be easy to shim into 1.3. 1.2 shouldn't be too
bad, but may pose some problems. I will follow up on customization
stuff off-list).
Best Wishes,
Chris Travers
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