Entering tax amounts on business expenses allows you to track taxes paid for:
- Accounts payable bills
- Operating bank withdrawals
- Credit card charges
Enter Taxes Paid on Business Expenses
Accounts Payable Bill
To enter taxes paid on a business expense:
- From the left navigation panel, click Accounting.
- From the bottom of the Accounting left navigation, click Accounts Payable.
- From the toolbar atop the Accounts Payable screen, click Add > Bill.
- On the Add New Bill screen, in the Bill Date field, use the drop-down to override today’s date, if desired.
- In the Amount field, enter the bill amount without taxes.
- In the Due Date field, use the drop-down to click the due date.
- For the Calc check box, take your preferred action:
- Check Calc Box
- In the Total field, enter the total amount.
The system calculates the GST, HST, QST and PST, as applicable, and auto-populates their fields.
- In the Total field, enter the total amount.
- Uncheck Calc Box
- In the GST, HST, QST and PST fields, as applicable, enter the taxes paid.
The Total field auto-populates with the bill’s total.
- In the GST, HST, QST and PST fields, as applicable, enter the taxes paid.
- Check Calc Box
- In the Ref # field, add a reference number, if desired. It can be an internal tracking number, or one from the bill.
- In the Pay To field, enter the name of the entity to be paid.
- Click More Info to add the entity’s mailing address, if desired.
- In the Memo field, use the drop-down to click a memo, or enter a new memo.
- In the Memo2 field, enter another memo if you desire further detail. This will not display when you print checks.
- In the Account field, click a Chart of Account for the bill. The system automatically selects this account when you post payment to the bill.
- Under the Options section, check the boxes to include those options desired.
- Check the box to Post as matter expense, if desired.
- If you do not want the system to remember the payee, in the lower left corner, uncheck Remember Payee.
- In the upper left corner, click Notes to enter more detailed notes, if desired.
- In the lower right corner, take the appropriate action:
- Click Save and New to save this bill and add another.
- Click Save to add this bill and return to the Accounts Payable screen.
The system saves your bill and proceeds as applicable.
Operating Bank Withdrawal
To enter taxes paid on a business expense:
- From the left navigation panel, click Accounting.
- From atop the Accounting left navigation, click Bank.
- On the Bank screen, either double-click your credit card bank, or single-click it to highlight it, then click Details.
- From the toolbar atop the Transaction screen, click Add > Payment.
- On the Add Transaction screen, in the Bill Date field, use the drop-down to override today’s date, if desired.
- In the Amount field, enter the bill amount without taxes.
- For the Calc check box, take the preferred action:
- Check the box to have the system calculate the taxes based on the Total you enter and your firm’s default rate settings.
- Leave the box unchecked to set the tax fields as editable and the Total field as read only.
- Take the appropriate action:
- Checked Calc Box
- In the Total field, enter the total amount.
The system calculates the GST, HST, QST and PST, as applicable, and auto-populates their fields.
- In the Total field, enter the total amount.
- Unchecked Calc Box
- In the GST, HST, QST and PST fields, as applicable, enter the taxes paid.
The Total field auto-populates with the bill’s total.
- In the GST, HST, QST and PST fields, as applicable, enter the taxes paid.
- Checked Calc Box
- In the Due Date field, use the drop-down to click the due date.
- In the Ref # field, add a reference number, if desired. It can be an internal tracking number, or one from the bill.
- In the Pay To field, enter the name of the entity to be paid.
- Click More Info to add the entity’s mailing address, if desired.
- In the Memo field, use the drop-down to click a memo, or enter a new memo.
- In the Memo2 field, enter another memo if you desire further detail. This will not display when you print checks.
- In the Account field, click a Chart of Account for the bill. The system automatically selects this account when you post payment to the bill.
- Under the Options section, check the boxes to include those options desired.
- Check the box to Post as matter expense, if desired.
- If you do not want the system to remember the payee, in the lower left corner, uncheck Remember Payee.
- In the upper left corner, click Notes to enter more detailed notes, if desired.
- In the lower right corner, take the appropriate action:
- Click Save and New to save this bill and add another.
- Click Save to add this bill and return to the Accounts Payable screen.
The system saves your transaction and proceeds as applicable.
Credit Card Charge
To enter taxes paid on a business expense:
- From the left navigation panel, click Accounting.
- From atop the Accounting left navigation, click Bank.
- On the Bank screen, either double-click your credit card bank, or single-click it to highlight it, then from the toolbar, click Details.
- From the toolbar atop the Transaction screen, click Add > Charge.
- On the Add Transaction screen, in the Bill Date field, use the drop-down to override today’s date, if desired.
- In the Amount field, enter the bill amount without taxes.
- Take the appropriate action:
- Check Calc Box
- In the Total field, enter the total amount.
The system calculates the GST, HST, QST and PST, as applicable, and auto-populates their fields.
- In the Total field, enter the total amount.
- Uncheck Calc Box
- In the GST, HST, QST and PST fields, as applicable, enter the taxes paid.
The Total field auto-populates with the bill’s total.
- In the GST, HST, QST and PST fields, as applicable, enter the taxes paid.
- Check Calc Box
- In the Due Date field, use the drop-down to click the due date.
- In the Ref # field, add a reference number, if desired. It can be an internal tracking number, or one from the bill.
- In the Pay To field, enter the name of the entity to be paid.
- Click More Info to add the entity’s mailing address, if desired.
- In the Memo field, use the drop-down to click a memo, or enter a new memo.
- In the Memo2 field, enter another memo if you desire further detail. This will not display when you print checks.
- In the Account field, click a Chart of Account for the bill. The system automatically selects this account when you post payment to the bill.
- Under the Options section, check the boxes to include those options desired.
- Check the box to Post as matter expense, if desired.
- If you do not want the system to remember the payee, in the lower left corner, uncheck Remember Payee.
- In the upper left corner, click Notes to enter more detailed notes, if desired.
- In the lower right corner, take the appropriate action:
- Click Save and New to save this transaction and add another.
- Click Save to save this transaction and return to the Transaction screen.
The system saves your transaction and proceeds as applicable.