- 10.3. Vendors & Payables Category
10.3.5. Sales Tax Liability - 10.3.4. Vendor Balance Summary
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10.3.5. Sales Tax Liability
Sales Tax Liability
This report shows the sales tax liability owed for each of the areas you collect sales tax. This report can be run in Accrual mode or in Cash Basis mode. Accrual Basis will display all invoices that have been created for the time frame selected and Cash Basis will only display invoices where payments or deposits have been received in the time frame.
Click on this menu option and the Sales Tax Liability setting window will open to allow you to select your report filter criteria.
Vendors&PayablesSTLOptions.JPG
| Sales Tax Liability Report Filters | Description |
|---|---|
| What time frame should the report reflect | Select a time frame from the list provided or enter a specific date range. |
| Generate report according to | Select Accrual Basis or Cash Basis. |
| Should the report be filtered to a specific state | Select the State or Provence that the report is to display results for. Each tax location that you have defined in your Tax Rules table is available for selection via this filter. |
| Add this report to your saved reports | Checking this option will allow you to enter a name to save your report criteria. The report name will appear under the My Saved Reports menu option under Reports. |
Below is an example of the Sales Tax Liability report run in Accrual Basis. Accrual Basis will display all invoices created within the time frame selected.
Vendors&PayablesSTLReportAcc.JPG
Below is an example of the Sales Tax Liability report run in Cash Basis. Cash Basis will display only invoices where customer payments or deposits have been received. The Collected column displays the total tax liability and the Liability column displays the tax liability based on the amount of the payment or deposit received.
Vendors&PayablesSTLReportCash.JPG
- 10.3.5. Sales Tax Liability
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10.3.6. Purchase Order Report