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Sales Tax reportin

accountstechmarineaccountstechmarine Member Posts: 2

Help my version not update for cash or accrual option. I need cash reporting for end of June

in Accounting Technical Support

Comments

  • AlexiaAlexia Member Posts: 3,314 ✭✭✭✭

    Hi, @accountstechmarine.

    There's no way to accelerate the migration process for individual users. We're moving Wavers over to the new version of Wave as fast as resources allow while ensuring your data's integrity and we aim to be one with the move within the next three to six months.

    But that's hardly a solution to your immediate problem. You'll need to adjust your numbers through a few journal entries for your numbers to match what they should look like, considering that you are doing your accounting in cash-basis. You can read a bit more about it here. That article mentions accounts payable and receivables, you would also have to create journal entries for Sales taxes on sales and purchases that have not been processed yet.

    With that said, I can't offer advice on tax compliance, so I can't recommend enough talking to an accountant directly. They would be able to help you out much better than we can and undoubtedly fix this up with the right quickly while ensuring that you're respecting your tax authority's rules.

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