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Sales Tax on Receipts

matcasmatcas Member Posts: 3

Hi I am quite new to Wave but tried to sit for a number of webinars and watch videos on how to use it. I have now been using the application for about 4 months and I really like it. I am however finding difficulty findings ways how the system would calculate the sales tax automatically when I upload a receipt. I know that when I add a transaction this can be done but I cannot seem to find ways how to click on the tax rate when I confirm a receipt and the amount is auto calculated. In the latter case I find myself having to input this manually.

Can you please help.

Thanks

in Accounting Technical Support

Comments

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

    Hi, @matcas.

    The receipts uploading system doesn't calculate taxes automatically. Wave only takes into account the total amount of an uploaded receipt, not the price for individual items.

    In some countries or regions, certain items are taxed while others are not. For example, unprepared food in Ontario is tax exempt, while prepared food and cleaning supplies, which you could buy on the same grocery bill, are not. Instead of asking you to mark which tax to apply to which item, we just ask you to put in the total tax amount.

    Does that clear things up a bit?

  • matcasmatcas Member Posts: 3

    @Alexia many thanks for your response. I thought I was doing something wrong.

    Thanks again,

    Matt

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

    My pleasure, @matcas!

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