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| Jim wrote: - quote - > When splitting a transaction - say at walmart where you buy groceries
After you enter the splits, right-click on one of the amounts, then> and household supplies (different categories) how do most of you > handle the sales tax. I don't care about tracking this for these type > of purchases. Seems I remember from years past that there was a key > combination that would distribute it among the other categories - is > this still a feature? In any case how do most you handle it?\ > Thanks for you help, choose "Proportionally allocate the unassigned amount", or press <F6> . There are several ways to handle sales tax. * Simply allocate it as I just described. This ignores the fact that some items are non-taxed, but I don't really care. * Carefully read your receipt and use calculations to add the correct amount of tax to the appropriate splits. This is a royal pain, and you're often off by 1c. * Enter the tax as a seperate split. You can report sales tax paid at the end of the year if your state allows it as a deduction. The downside I ran into is that I can't do it this way and easily bill it to my clients on an invoice. -- Steve Bell New Life Home Improvement Arlington, TX |
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| I vaguely recall there being a key combination for this, but I have no idea what it is. If you just enter the categorized items and it doesn't add up to the total of the transaction you entered before splitting it (a key) it will offer to, among other things, spread the unassigned amount proportionally. I very rarely break out sales tax since there is no reason to do so for most people. (Myself included.) Some people who live in states without a sales tax may find it worthwhile since you can deduct the greater of the IRSes calculated amount or one you have data to support. I will break it out on huge purchases (car, plasma TV, etc.) just so I know what I paid for the [thing] and what the tax was. Splitting proportionally across Food : Groceries and Miscellaneous : Supplies (my categories) is rarely correct since here we don't charge sales tax on most groceries. But I understand you basic theory. Answer applies here for a case like, say, Miscellaneous : Supplies and Housing : Maintenance. (A popular combo for us at Home Desperate.) "Jim" <jamesone[at]cableone.net> wrote in message news:7f16g4lda80aimv2cncs55atqakvlqsqpr[at]4ax.com... - quote - > When splitting a transaction - say at walmart where you buy groceries > and household supplies (different categories) how do most of you > handle the sales tax. I don't care about tracking this for these type > of purchases. Seems I remember from years past that there was a key > combination that would distribute it among the other categories - is > this still a feature? In any case how do most you handle it?\ > Thanks for you help, |
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| Hi Everyone, When splitting a transaction - say at walmart where you buy groceries and household supplies (different categories) how do most of you handle the sales tax. I don't care about tracking this for these type of purchases. Seems I remember from years past that there was a key combination that would distribute it among the other categories - is this still a feature? In any case how do most you handle it?\ Thanks for you help, Jim |
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