=?Utf-8?B?RFJVQW5nZWxs?= <DRUAngell[at]discussions.microsoft.com> wrote on
11 Oct 2007 in group microsoft.public.money:

- quote -

Money Business expects you to create an invoice for each sale. On the
invoice, you mark each item or service as taxable. Money then handles
the sales tax automatically.

--
Steve B.
New Life Home Improvement

Ah, I guess I just put that same Transfer : Sales Tax category for both the
received money and the paid money. Is that correct? Seems to be working...

"DRUAngell" wrote:

- quote -

I'm confused about how to use the built in Sales Tax account and features in
Money Business. What I've been doing is including sales tax collected in an
income category so I can easily find how much I owe and then pay it, but I
think that's actually hurting me because it's seeing it as income. Of
course, I deduct the sales tax payments so it's probably evening itself out,
but I'd rather just use the built in features like they're suppose to be used
if I can.

For example, let's say I get an online payment split up like the following:

Sales Income : eBay = 61.00
Sales Income : Shipping Paid = 14.04
Sales Income : Sales Tax Collected = 5.40
Sales Expense : PayPal Fees = (2.63)
----------------- Total Deposit: $77.81

The only way I see to use the Sales Tax account in Money is to use Transfer
: Sales Tax. So that creates a balance there showing me how much I owe for
sales tax which is great, but then when I make a payment and use the Business
Taxes : Sales Tax category it doesn't adjust how much sales tax I owe. Is
there another category I'm suppose to use or what am I doing wrong there?
Any information on this would be greatly appreciated. Thanks!