K
Ken Schultz
The General Excise Tax in Hawaii is not a Sales tax, it is a tax on the
business and is a tax (4%) on the total price charged to the customer
(effectively a form of Income tax). I can't use the Sales tax feature of SBA
as it's not appropriate and will not be taxed. Typically businesses pass on
the cost to customers by adding a 4.166% charge to the item price (which
equates to 4% of Total).
How can I add a custom item that calculates 4.166% of the total of previous
items in the Invoice and then adds it to an expense Account set aside for
collecting General Excise tax?
I presume I can add and Account item (sending it to the relevant Expense
Account) but how do I make the Unit Price or Line Total a percentage of the
rest of the Invoice?
If there is some way of doing this I would appreciate a reply
Thanks
Ken
business and is a tax (4%) on the total price charged to the customer
(effectively a form of Income tax). I can't use the Sales tax feature of SBA
as it's not appropriate and will not be taxed. Typically businesses pass on
the cost to customers by adding a 4.166% charge to the item price (which
equates to 4% of Total).
How can I add a custom item that calculates 4.166% of the total of previous
items in the Invoice and then adds it to an expense Account set aside for
collecting General Excise tax?
I presume I can add and Account item (sending it to the relevant Expense
Account) but how do I make the Unit Price or Line Total a percentage of the
rest of the Invoice?
If there is some way of doing this I would appreciate a reply
Thanks
Ken