Non Profit in Canada - Tax recoverable to a certain %
ohnmyohngoldcard
Member Posts: 1
Hi there -
I'm trying to determine the process, and perhaps it's manual after the fact of how to setup the tax show that it allocates the non-recoverable portion to the expense and only shows the recoverable to the tax recoverable line.
As a non-profit in Nova Scotia 50% of the HST is recoverable. Wondering how others may have set this up. So for example, if we bought something for $100, there would be 15% on top, for $15. Of that $15, $7.50 is recoverable.
Perhaps I need to manually do the math, and setup a separate Tax recoverable and overriding the 50%.
Just looking to see what others have done.
With thanks ~Janice
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