I'm using QuickBooks Pro 2006 (Canadian Edition). I've just got to do my GST and found out a rather strange thing.
From time to time I give my clients (service business) discounts. I've created a special item 'discounts' and once I enter in on my invoice, the amount becomes negative.
I've created a GST detailed report and was trying to find out discrepancies between the income for GST purposes and my total income. I've noticed that some of my discounts that I have given to my clients appear on this report as negative numbers; others, as positive numbers. Because all net amount (income received from clients) appear on this report as negative numbers, then the discounts given should appear as positive numbers-well, some do, others don't.
I've just created a fake invoice for $10,000 and also entered a discount in the same amount, $10,000. Total sales amount in this report went up by $20,000 (so, the original income and the discount were added up). However, some other discounts do appear correctly, i.e., positive numbers (and they reduce the total income). It makes no sense whatsoever!
I'd really appreciated any comments.
Thanks,
Jack