Sales tax analysis [in-depth guide]
Shows taxable sales, tax amounts paid and collected, grouped by sales tax rate code.
Search Criteria
Paid invoices only: This option will only include client invoices with receipts applied or vendor invoices with payments applied
-- If this option is selected, the date range will be applied to the posting date of the receipts or payments
-- If this option is not selected, the date range will be applied to the posting date of the client and vendor invoices
Show tax applied lines only: If this option is selected, only invoices and tax codes with invoice lines set as taxable on the UI will be shown
Run the report in legacy mode: Runs the report as it was designed before 5/11/2011
Collected total w/o tax: This will show you a printable drill-down of all client invoices that make up this total.
Note: You can also run the Sales journal report (with the Income Accounts Only unchecked) for the same date range to see the total amount of client invoices posted to non-income accounts. This will explain any discrepancy you see between the revenue on the corp P&L versus the total w/o tax on this report, for example.
Report columns
Invoice total w/o tax: This is the total amount on the invoice without sales taxes. This field is not totaled at the bottom of the report.
Taxable sales: The total amount of the invoice lines on which the taxable check box was set. This is the invoice line amount, not the tax amount)
This does not depend on the option ‘Paid Invoices Only’
Tax amount: The total amount of the sales tax for an invoice minus the sum of the tax amounts entered when applying a real invoice to an advance bill invoice
This does not depend on the option ‘Paid Invoices Only’
Total: Taxable sales + tax amount
This does not depend on the option ‘Paid Invoices Only’
Collected paid: If paid invoices only = taxable sales + tax amount in proportion to the amount received
If paid invoices only not selected = taxable sales + tax amount
Collectible taxable sales: If paid invoices only = taxable sales in proportion to the amount received
If paid invoices only not selected = taxable sales
Collectible tax amount: If paid invoices only = tax amount in proportion to the amount received
If paid invoices only not selected = tax amount
FIRST BOTTOM SUMMARY (depends on tax codes)
Sales w/o Tax: Sum of the Taxable Sales above (based on the Taxable check boxes) for client invoices
Tax Collected: Sum of the Collected Tax Amounts for client invoices
Purchases w/o Tax: Sum of the Taxable Sales above (based on the Taxable check boxes) for vendor invoices
Tax Paid: Sum of the Collected Tax Amounts for vendor invoices
Second-bottom summary (does not depend on tax codes)
Total taxable: Sum of the taxable sales (lines where the sales tax amounts are different from 0)
(In proportion to amount received for paid invoices only)
Total non-taxable: Total w/o tax – total taxable
Total w/o tax: Total amounts on invoices without taxes
(In proportion to the amount received for paid invoices only)
Total tax: Sum of the collected tax amounts
(In proportion to the amount received for paid invoices only)
Total w tax: Total tax + total w/o tax
Report columns (legacy mode)
Show tax applied lines only: If this option is selected, only invoices and tax codes with tax sales amounts different from 0 will be shown
Invoice total: This is the total amount on the invoice including all taxes.
Taxable sales: The total amount of the invoice lines on which the taxable sales tax amount was applied
This does not depend on the option ‘Paid Invoices Only’
Tax amount: The total amount of the sales tax for an invoice minus the sum of the tax amounts entered when applying a real invoice to an advance bill invoice
This does not depend on the option ‘Paid Invoices Only’
Collected/paid: The amounts of receipts or payments applied to a client or vendor invoices
This does not depend on the option ‘Paid Invoices Only’
Collectible amt: If Paid Invoices Only is selected, this is equal to:
(tax amount * collected/paid) / invoice total
If Paid Invoices Only is not selected, this is the tax amount
Taxable plus tax: If Paid Invoices Only is selected, this is equal to:
((taxable sales + tax amount) * collected/paid) / invoice total
If Paid Invoices Only is not selected, this is the taxable sales + tax amount