Luis Giraldo
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An error occurred while saving the comment Luis Giraldo
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100% - ironically, as soon as you save the item it displays with the comma anyways.
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1 voteLuis Giraldo
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546 votesLuis Giraldo
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32 votesLuis Giraldo
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An error occurred while saving the comment Luis Giraldo
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100% THIS. Currently, if I have 50 line items in a purchase order, I have 100 more clicks (2 clicks per line item to select the tax rate payable for each line item).
IN ADDITION TO THAT: There needs to be a vendor tax preference that simply overrides the above as an option. This way even if items don't have a specific tax component associated with them for purchasing, then at least the vendor tax component will override each line item added to a PO, preventing me from having to click twice for each line item to select a tax.
QuickBooks already does this by providing a tax preference for not only vendors, but also the sale of an item as well as the purchase of an item. Absolutely critical to efficiency.
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4 votes
An error occurred while saving the comment Luis Giraldo
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I'll add to this - BC and SK PST all behave the same. PST is not a recoverable tax, and should not be tracked in a PST expense GL. It should be tracked along with the item.
I purchase a $100 widget for use in my business as a business expense, and pay 5% GST and 7% PST.
The transaction journal **should** show:
GL Account Widget Expenses: $107 ($100 plus $7 PST) Debit
GL Account Payable: $112 Credit
GL Account GST Tax Paid: $5 DebitIt appears that you are putting both taxes into the "Tax Paid Expense" GL account, which is a very inefficient way of tracking it, as it will require doing a journal entry for *every single expense* in order to move the PST from the tax paid expense account into the GL account of the expense.
Both Xero and QuickBooks Online have figured this out years ago, and this is the one thing preventing me from moving my company to Zoho One
Luis Giraldo
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100% - ironically, as soon as you save the item it displays with the comma anyways.