Sales tax and reports

GregR

Hi team,

I am about to start charging sales tax on invoices I send and recording tax paid in purchases.

When I test this and create a report, the tax I have charged on invoices shows up, but the tax I have paid on purchases doesn't.

I have searched through various accounts, but am unable to find out how to display sales tax that I have paid. (Entered when I upload receipts)

I will need to do this for my reports to govt

Am I doing something wrong, or overlooked something?

Thanks for shedding some insight into this.

Greg.

JamieD

Hey @GregR! My thoughts are that it's likely the tax you created wasn't listed as a 'recoverable tax.' It will need to be created as a recoverable tax in order for it to show up properly in the Sales Tax report section (after it's associated with all of the transactions it needs to be). Here is a help centre article that explains the difference of the two tax types and how they should work in Wave: https://support.waveapps.com/hc/en-us/articles/208623426-Taxes-Recoverable-vs-Non-Recoverable

GregR

Hi Jamie.

There ended up being a number of problems actually.

Yes you are correct, but it wasn't an easy thing to resolve.

I couldn't just make the old tax into a recoverable tax.

I had to delete the old non-recoverable tax and create another one, but I couldn't delete it because it had been entered in quite a few items.

That meant going into every item and deleting (or I could have swapped old to new in the TAX box of all entries) and changing over to the new tax.

There also seemed to be some inconsistency with something to do with the old tax that meant that it took a bit of time to sort.

So yes it was to do with recoverability, but the resolution wasn't as easy as changing the old tax, or deleting the old tax, and then making a new one 😁.

But.....

It all works now.

Thanks for your help.