Sales Tax reports - tallying sales instead of payments

WhiteGloveWhiteGlove Member Posts: 5

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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Comments

  • RMenschelRMenschel Member Posts: 8

    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?

  • JamieDJamieD Administrator Posts: 795 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).

  • WhiteGloveWhiteGlove Member Posts: 5

    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!

  • alexlewiszarkosalexlewiszarkos Administrator Posts: 336 admin

    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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