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Need help with setting sales tax reports

Tracy M. shared this question ago

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I seen the video but it doesn't show how to set it up from the start.

The same question

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Nicki G. ● 13 months ago

Hopefully video is small enough to attach

Also can email me at nickig@funflicks.com if you want to connect as well

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Comments (7)

Nicki G. ● 13 months ago

I can help, give me a sec to see if I can do a video

You can also message me directly and I can hop on a video call and show you

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Nicki G. ● 13 months ago

Do you currently have taxes setup and you're just looking to do a report?

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Tracy M. ● 13 months ago

Just the report

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Tracy M. ● 13 months ago

I have it set up on auto tax when I do the quotes and contracts

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Nicki G. ● 13 months ago ●

Hopefully video is small enough to attach

Also can email me at nickig@funflicks.com if you want to connect as well

Files:

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Greg H. ● 13 months ago

Are you an accrual or cash based business?

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Nicki G. ● 13 months ago

Cash, I like to figure out my P&L based on when I can expect income and expenses to actually hit. It works better for me with how chaotic seasons get.

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Greg H. ● 13 months ago

So with you doing a cash basis when you're doing your sales tax wouldn't you want to do it based on when you collected the payment let's say a customer pays you a deposit in June but your events not till August would you pay for the sales tax that you collected in June or would you wait to pay the sales tax on the event that took place in august?

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Nicki G. ● 13 months ago

I am technically a service and in my state I do not have sales tax.

But I would submit the sales tax when the event happens. That way if there are last minute changes I don’t have to figure out the difference etc

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Greg H. ● 13 months ago

Yeah I got what you're saying we collect a deposit and so we have to pay tax when the deposits collected and then any changes it would take place would be when the final balance is collected so we have to do ours on a monthly basis our sales tax so we have to do it on whatever income we pulled in each month even if the event is a future event

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Nicki G. ● 13 months ago

I can see why you would do it that way. I think I would put the money aside in another account and still do it when the event happens

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Greg H. ● 13 months ago

Just set up a report and settings reports create a sales tax report use this type of information you can add anything you want this is what we use and when you go to pull your data on the main screen on the left menu pick payment date instead of event date and then put the period of time you want

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Nicki G. ● 13 months ago

Lead ID is a lost value with grouping by anything else as it'll just pick a "top" lead and show that one

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Greg H. ● 13 months ago

And basically all we do is take that report and Export it to Excel and manipulated around in the format we need that's basically all we use that for is a data dump

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Greg H. ● 13 months ago

You're correct on the lead ID usually we don't need the lead ID in doing our report but we always leave it there in case we just want to ungroup so we don't have to rebuild the reports

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