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What am I doing wrong with my sales tax?
LottieMade
Member Posts: 1
Hi 
As I'm trying to input expenses and sales tax charged it seems that the amounts Wave is calculating are different than the invoice states.
In Canada we have HST which is 13%. When I use HST for example on a bill from Amazon.ca, the bill total will be 48.57 before tax, estimated GST/HST is 3.19. If I input this in Wave the HST will show up as 5.95 when I hover over the amount.
(I'm inputting them in Transactions > Add expense > More details)
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Hey @LottieMade - I think this ended up being answered over our live chat (I originally had the ticket but the agent who helped let me know it was solved). I'm going to post the summary of the resolution here though just in case someone else has a similar issue!
Wave transactions are that are already populated and completed are tax inclusive when a tax is added, so essentially if you have a $10 expense in Wave (made manually or via a receipt), and you add a 10% tax, it isn't going to increase the transaction to $11 but rather calculate what was tax and what was the purchase if the final overall total was $10. If however you add a tax to an item in an invoice or bill, this does increase the value of the item by the taxable amount.