Sales and Purchase Tax

Sales and Purchase Tax

Post by cristalin » Fri, 30 Jun 2006 08:13:42


I collect sales tax and pay tax on purchases (GST). Sales tax is offset by
purchase tax; the remainder is either paid to or returned by Inland Revenue.

I see how can I enable sales tax for what I sell. But I can't find a way to
enable purchase tax for what I buy.

For example, MS Money allows to specify tax on a per-category (per-account)
and per-item basis. I'd like to have the same in SBA, for example, either
the "Advertising Expenses, GST 11%" and "Advertising Expenses, GST 0%"
accounts, or the ability to specify the GST rate for individual expenses.

I would like then to have reports GST-exclusive.

I realize this may not be officially supported, but I am happy to dig into
the SQL tables and adjust table fields to make the above work. It appears
that SBA internally supports what I need. I would appreciate any hint.


1. Offsetting sales tax on purchases with sales tax on sales

2. Sales Tax on Purchases to Offset Sales Tax on Sales

OK. I'm in New Zealand & am trying to get Office Accounting Express 2007 to
work for my small home business. I know its not localised for here so am not
expecting good news on this query. Basically, all I need is a database to
keep track of sales & purchases & calculate my sales tax liability every two
months. All the other bells & whistles are nice but so far it's missing the
ability to carry out an essential function. Read on. We've got a single
fixed Sales Tax rate here of 12.5%. You pay it on most things & get charged
it on most things. Ideally, the software would keep a running total or sales
tax on goods & services sold, which, If I'm running a profitable business
would be partially offset by the running total of sales tax on goods &
services bought. So far it's keeping track of sales tax on sales, but does
not seem to have inbuilt functionality to do this for purchases. Will I have
to do a separate invoice for the sales tax every time I enter cash purchase
or vendor bill?

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