Sales Tax

I am using a different machine and do not have PT available, but I believe my PT is 2005.
This state, NC, has adopted the practice that companies with a tax number will report their own sales tax rather than paying sales tax to the vendor.
Fine. It is easy to set up invoices to take care of that.
But how can PT be set up to account for the taxes we pay directly on our purchases? Some of the purchases are taxed at 1% and others at the full rate, state and county.
A real problem, so far as I can tell.
CSSJR
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If we do not wish to lose our freedom, we must learn to tolerate our
neighbor's right to freedom even though he might express that freedom
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Reply to
Claude S. Sutton, Jr
I would say the easiest is to manually record the sales tax paid by using the info on the invoice you paid. Just post it to a Sales tax payable account. If you need to track amount paid on your purchases separately by jurisdiction then you might set up items or separate G/L accounts to capture the taxes you need to report. Look at your reporting requirements and then taylor your CoA or items accordingly.
"Claude S. Sutton, Jr" wrote in message news: snipped-for-privacy@localhost.localdomain...
Reply to
Laura

Thanks.
That is the perfect KISS method.
I should have thought of that, but I was trying my best to make it hard.
CSSJR
--
If we do not wish to lose our freedom, we must learn to tolerate our
neighbor's right to freedom even though he might express that freedom
 Click to see the full signature
Reply to
Claude S. Sutton, Jr

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