Another entry will be required in cash receipts journal with difference in recorded 4600(9500 - 5900).
If I understand your question correctly you know what the Gross Receipts are and need to calculate the sales tax that is included. If that is the case this is how to do it. Gross Receipts - Gross Receipts divided by (1+ Tax Rate) if your tax rate is 5% and your gross receipts including tax are $1,050.00, divide $1,050.00 by 1.05. The result is your net receipts without tax. $1000.00 . Then $1050.00 -$1000.00 = $50.00 the sales tax
sales account sales account
Gross receipts are the total of all sales with out the deduction of any expenses. Net receipts are the gross receipts minus returns, allowances and discounts.?æ
Quickbooks forms include sales receipts, purchase orders, invoices, statements, credit memos, estimates, and sales orders.
Another entry will be required in cash receipts journal with difference in recorded 4600(9500 - 5900).
If I understand your question correctly you know what the Gross Receipts are and need to calculate the sales tax that is included. If that is the case this is how to do it. Gross Receipts - Gross Receipts divided by (1+ Tax Rate) if your tax rate is 5% and your gross receipts including tax are $1,050.00, divide $1,050.00 by 1.05. The result is your net receipts without tax. $1000.00 . Then $1050.00 -$1000.00 = $50.00 the sales tax
sales account sales account
Gross receipts are the total of all sales with out the deduction of any expenses. Net receipts are the gross receipts minus returns, allowances and discounts.?æ
A printing press, sales invoices and official sales receipts can endure a negative effect in sales forecasting if printing is not accredited to print. The BIR is firm on their new receipt policy which must be issued. If receipts are not accounted for, they cannot be properly reported.
47.72 I guess
$4.98
Receipts are mandatory for all expenses of $75 or more and all lodging expenses.
not exactly. replacement cost is better. receipts are not required by law, but the ins co's say that they are because people don't know better.
gross sales tax is the tax you pay on total receipts/sales. basically you can't deduct any expenses before you pay the tax.
absolutley but you need to ask
Receipts