FrontAccounting forum — tax credit

Re: tax credit

2015-11-30T13:41:45Z

I checked old posts, erwindebruin provided a good solution.
https://frontaccounting.com/punbb/viewtopic.php?pid=18816#p18816
What a shame I didn't follow then.

Re: tax credit

2015-11-13T20:34:43Z

When the current quarter ends, how do we find out the amount of tax credit for the last quarter or the one before that?
Do we make notes for each occurrence?

Re: tax credit

2015-11-11T21:27:03Z

Just issue a credit note for the missing 2000. The reported sales for this period will be reduced by that amount, which in turn will reduce the tax by 200.

tax credit

2015-11-11T20:04:03Z

Hi all,

We are paying sales tax base on invoice (not cash basis).
some late payment collected are not in full amount and we have to credit the sales tax for the difference.
What's the proper way to record this?

for example

sales invoice $10000 + $1000 tax
tax paid to government: $1000
payment collected: $8800
tax credit: $200 <---we'd like to properly record this

Thank you
Eric