Re: [SL] Refund Checks

[Tony F. <to...@sy...>]

On Wed, 2006-11-29 at 10:25 +0200, Dr Eberhard Lisse wrote:
> as you write at the end, the question is not not to pay the net tax,
> but
> some jurisdictions require that you pay first, claim second and
> reconcile the net tax last.
> 
> How would you address this?

The same way you would normally... You have two invoices, one customer
invoice that registers revenue and tax collected and one vendor invoice
that incurs some expense and pays some tax. In this case I pay the tax
man his $20 and later claim back the $16 leaving a net collected tax of
$4. The "Credit Note" is just transferring money around... In my
jurisdiction there is no tax on that maybe there is where you are?

In my tax jurisdiction we have to periodically file a Sales tax report
that includes the net tax calculation and remit a payment for the net
tax.

> > I never said I didn't pay the taxes due...
> > 
> > Say I do some work. Invoice to customer:
> >   Labour   $100
> >      Tax   $ 20
> >    Total   $120
> > 
> > And I buy some goods: Invoice from Vendor:
> >   Parts $ 80
> >     Tax $ 16
> >   Total $ 96

-- 
Tony Fraser
to...@sy...
Sybaspace Internet Solutions                        System Administrator
phone: (250) 246-5368                                fax: (250) 246-5398