Sales Subject to Tax VS income
Ivan1111111111
Member Posts: 4
Hello there all,
I hope someone can help with this. I am doing my year end and here are the numbers I have:
Profit Loss Statment is giving me my total income for a period
The Sales Tax Report gives me Sales Subject to Tax for the same period
These two numbers are dramatically different. Can everyone advice why? For example.
My income is 100,000. Sales tax report shows sales (hst, gst and non-taxed) adding up to about half that 48,000 or so. Can anyone tell me what I am missing here?
Thank you very much.
Ivan
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