Sales tax on Invoice

Nikjoan122

I am making and invoice for the total amount of $1000. So it includes product cost + 5% of non recoverable tax.

So I am adding a product with price $1000 later adding sales tax 5% and it is showing $1050

But my problem is to include that 5% on invoice with total amount of $1000 so I am starting to playing with product price and make it like $952.38

What I can do to have to avoid this as in some cases I am having small differences in amount like $0.12

Next method I have added sales tax on transactions but when adding category Paid from Wave invoices I am losing that tax. Not sure what happens.

ConnorM

Hey @Nikjoan122! Thanks for reaching out here, this is definitely a tricky one!

There's currently no way to do this easily do this in Wave, but if it's something that is this difficult, you're right to suggest it might be worth investigating.

The alternative would be to create journal entries to move amounts from Sales to Taxes Payable after every invoice. You would still have to calculate these amounts manually, so that is less than ideal.

I'll make sure your feedback reaches the right people. Thank you for taking the time to share it! I can't make any guarantees that this is a feature we'll build in Wave, but feedback from our users does have a significant impact on how we choose what to build next for Wave.