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Sales Tax reports - tallying sales instead of payments

WhiteGloveWhiteGlove Member Posts: 9

Hi,
Please fix your sales tax reports so that they tally the totals based on monies COLLECTED as opposed to just invoiced. We do not pay sales tax on invoices that have not been paid yet, as we have not yet "collected" that amount. Sales tax is a pass through that we "collect" from the customer and then pass on to the state.
Thank you.

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in Sales & Invoicing Technical Support

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    RMenschelRMenschel Member Posts: 13

    At the top of the Sales Tax Report page I find an option "Report Type" which allows either Accrual or Cash. Would the Cash option do what you want?

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    JamieDJamieD Administrator Posts: 1,156 admin

    Hey @WhiteGlove! As @RMenschel mentioned, you will want to change the report type from Accrual to Cash & Cash Equivalents to search only for the Sales Taxes you've received/paid on invoices/bills that have already been processed in Wave (meaning that they are not due to be paid to you, or you do not have to pay at a later date for the bill).

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    WhiteGloveWhiteGlove Member Posts: 9

    Hi JamieD. Thank you for that info. Could you point me in the direction of where to find those settings so I can make that adjustment? I don't see that on the report window itself so I'm guessing it's located somewhere in the settings...?
    Thank you!

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    AlexLAlexL Member Posts: 2,869 ✭✭✭

    Hi @WhiteGlove . If you don't have this option at the top of your Sales Tax Report, this is most likely because you're still on our older accounting platform. We're working on making the changes necessary so that we can move our remaining users on our old platform over to the new one, at which point you will have access to the Cash & Cash Equivalent Reporting option.

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    WhiteGloveWhiteGlove Member Posts: 9

    Hi @alexlewiszarkos I do not have this option. Any chance you can add this to my account??

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    JamieDJamieD Administrator Posts: 1,156 admin

    @WhiteGlove. We currently in the process of migrating our users over to the latest version of the software again. With that being said, you should see the new features in your account within the next month or so (we don't have a set ETA or guaranteed timeline though). Thanks for your understanding and patience here.

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    wdatoowdatoo Member Posts: 1

    Hi all.

    I just came upon this thread looking for help on sales tax reporting. I have been using Wave for a number of years and it's great for what I do. I have made it work for me! Good job...

    However, I was recently moved to your new accounting platform and tried to generate the Sales Tax report (for my UK VAT submission and accountant to check) and the old style 'Audit' report is no longer i.e showing the total nett invoice value with the sales tax amount in separate columns.

    Instead I have a report that only shows the actual 'VAT' amount on each line applicable. While I understand how this new report is helpful, our process is designed around the old style report when checking our submission.

    Is there a way to generate the old style report/audit?

    Thanks for your help.

    Walli

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    JamieDJamieD Administrator Posts: 1,156 admin

    Hey @wdatoo (Walli). I'm afraid there isn't a way to generate the old Sales Tax audit report that you are looking for. What you can do, is export the data in CSV format and then customize it the way you'd like when it comes to filing your taxes, but retrieving the old style of audit report isn't available anymore.

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