Override HST paid on Expense
lgbookkeeper
Member Posts: 2
I'm new to Wave and was trying to override the HST paid on an invoice since not the entire expense amount had HST applied to it but that detail was not provided on the suppliers invoice. Can't I just override the HST paid amount? I can in other accounting software but I get an error that it is not 13% for the HST if I try to enter another amount. Any help would be really appreciated....thanks!
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Hey @lgbookkeeper !
I'm having some trouble understanding your issue here but I'll try my best to offer a solution here. To clarify, are you looking to edit the tax rate percentage for HST in your Wave account to then be reflected on your invoice? If so, you will have to edit the rate by heading over to Settings > Sales Taxes and pressing the pen icon beside your HST sales tax. You can then scroll down to the bottom of the page to edit the rate. Otherwise, if you are simply looking to add/remove HST on an item line on your invoice, you can do this by editing the invoice in question under Sales > Invoices in the the tax section.
If I missed the mark, please don't hesitate to reach back out so I can assist you further. Also, feel free to share some screenshots for additional context. I hope this helps!
Hi JulianP
I have an expense invoice I am trying to enter that has a total $33.28. When I select HST included from the Transaction screen it calculates HST included as $3.83. However the supplier invoice indicates that HST paid is actually only $2.83. I have tried to override the HST calculated to reflect the $2.83 but I get an error since it is not the proper HST that would be included in $33.28. I have used other accounting software and it allows you override in case there are rounding issues or for whatever issue HST paid on the invoice is not what the software calculates. I wondered if there is a way to do this in Wave? Hope that clarifies. Thanks for the help.
Hey @lgbookkeeper !
If you include sales tax on a transaction's total amount, it will use the percentage you entered for that specific sales tax when you created it in Wave. If you'd like, you can edit that percentage by heading over to Settings > Sales Tax. Alternatively, if you'd like to override the calculated amount, you can do this by entering the dollar amount of your choosing on your Transactions page. Below I attached a screenshot for reference: