Tax amount ignored on Tax report

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Angeman
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Re: Tax amount ignored on Tax report

Post by Angeman » 13 January 2015, 17:50

No I'm sorry you need to fix all transactions that are wrong.
To see them easily you can right click on the transactions columns to enable VAT columns :
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Then you can select your transactions one by one to check the following :
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AlecFasani
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Re: Tax amount ignored on Tax report

Post by AlecFasani » 13 January 2015, 20:18

Ok, got it.
Thanks.

AlecFasani
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Re: Tax amount ignored on Tax report

Post by AlecFasani » 13 January 2015, 23:36

I have one more question regarding taxes.
When I have one transaction with 2 or more splits with different taxes rates each, should the tab "Taxes" (the one above "Splits") be left empty??
I mean, I only have to insert the taxes on each split transaction but nothing at the root transaction??

Thanks

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Angeman
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Re: Tax amount ignored on Tax report

Post by Angeman » 14 January 2015, 09:34

AlecFasani wrote:When I have one transaction with 2 or more splits with different taxes rates each, should the tab "Taxes" (the one above "Splits") be left empty??
I mean, I only have to insert the taxes on each split transaction but nothing at the root transaction??
No the Taxes tab above the splits shouldn't be empty, you should fill it and in theory it should be equal to the sum of the taxes you set for the 2 or more splits.

AlecFasani
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Re: Tax amount ignored on Tax report

Post by AlecFasani » 14 January 2015, 12:29

Angeman wrote:
AlecFasani wrote:When I have one transaction with 2 or more splits with different taxes rates each, should the tab "Taxes" (the one above "Splits") be left empty??
I mean, I only have to insert the taxes on each split transaction but nothing at the root transaction??
No the Taxes tab above the splits shouldn't be empty, you should fill it and in theory it should be equal to the sum of the taxes you set for the 2 or more splits.
Ok,
Any chance to have the software doing the calculation on the go??
I mean, it would make sense to have "Root Tax Tab" automatically filled while I insert each split.
I might have more than 30 splits (with different tax rates) for the same root transaction when this transaction is a credit card payment for instance.

Looking forward for the updated version. Does apple take too long to release??
Thanks!!

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Angeman
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Re: Tax amount ignored on Tax report

Post by Angeman » 14 January 2015, 12:43

AlecFasani wrote:Any chance to have the software doing the calculation on the go??
I mean, it would make sense to have "Root Tax Tab" automatically filled while I insert each split.
I might have more than 30 splits (with different tax rates) for the same root transaction when this transaction is a credit card payment for instance.
Yes but it needs some work on my part so it won't be included until next major update.
AlecFasani wrote:Looking forward for the updated version. Does apple take too long to release??
It takes a week usually.

AlecFasani
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Re: Tax amount ignored on Tax report

Post by AlecFasani » 24 January 2015, 15:41

It takes a week usually.
Update still not avlb??!! :-(

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Angeman
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Re: Tax amount ignored on Tax report

Post by Angeman » 24 January 2015, 16:41

Apple has validated the iOS update yesterday but not the OS X update yet.

AlecFasani
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Re: Tax amount ignored on Tax report

Post by AlecFasani » 03 October 2015, 12:02

Hi Angeman.
I'm sorry but I'm still struggling with taxes on split transactions.
I have created this transaction to try to show my problem.

First of all, my problem is mainly with paypal transactions.
If I receive a £10.000 payment via paypal they will charge a service fee for that.
Let's imagine it is £500 paypal fee to make things easier.
That fee must be on my transaction because it is an expense which I have to pay and deduct from my profits.

So on the TRANSACTION tab I put +£9500 income (Total sales amount minus paypal fee)
That's what I actually have in my account.

On SPLITS tab I have:
+£10.000 sales (that's the full sales amount to be taxed)
-£500 Paypal fee

Then I have to pay VAT over the £10.000 sales
while I can't put any VAT over the -£500 paypal fee.
So the easy thing to do is to put 20% VAT Tax only on the £10.000 SALES SPLIT
All seems perfect so far.

The problem is the Tax Report simply ignore any taxes included on SPLITS.
Why??

If I have to put the Tax on the main TAX tab it will be calculated over the £9.500 income and not over the £10.000 sales.

Wouldn't it be possible to have the reports using taxes from Splits transactions rather than only from the Main Taxes Tab??
Sorry to insist on this subject but things would be much easier this way. No??
Thanks for your help.
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Angeman
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Re: Tax amount ignored on Tax report

Post by Angeman » 03 October 2015, 13:31

You have to copy/paste the ET amount (8,333.33) from the split to the transaction because the tax rate of the transaction is not 20%. This won't change in current version sorry but it will be much easier in future version 6.

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