View Full Version : Gross amount
01-26-2005, 06:17 PM
When processing chq or credit card expenses. there is a box you can tick so that the amounts show up gross and not net of taxes.
Is there any way of activating it so that it always works with the gross amount rather than net. I cannot find a preference that will do this unlike the sales figures you can select whether you want your sales figures net or gross of tax.
Surely you shouldn't need to tick the box every time you want to pay a bill.
Having it set on gross tax makes it easier for when I'm splitting expenses so that I don't have to work the amount without gst before entering it.
I hope this makes sense, you help would be appreciated.
01-27-2005, 03:17 AM
In the Preferences / Tax / Company Preferences, choose sales figures to show as Gross.
01-27-2005, 03:38 PM
But I already have the company preference set at gross sales figures,
I guess I didnt explain myself.
This not for purchases of sales items.
For ordinary expenses when processing chq's or credit card expenses there a box you can tick but it does not stay permanently on.
Unless it just my version I have 2003 small business.
01-27-2005, 07:30 PM
Sorry, never really thought about it - and have entered over fifteen hundred cheques a year for the past ten years. (Well, up to a year ago anyway). You are correct, it does always default back to Net. And 2004 does the same.
It may not seem like a good answer, but as the GST is really not yours and is simply being collected on behalf of the Government, the info in the database actually has to be net. You can choose to show it any way you want, but underneath it MUST be net. The question is though, how come they allow you to do gross in Sales but not in some other areas. I really don't know. But as the Beta testing of 2005 is about to begin, if it has not already been fixed, it is unlikely to change in this version either.
01-27-2005, 07:43 PM
Processing the figures in Net does take longer. When splitting amont into different chart of accounts.
Having to work out the percentage and then divide it by 11 to get the net figure.
I am thinking of ticking the box only when I need to split amounts.
Do you think this is a good idea?
01-28-2005, 04:26 AM
I had a Supermarket for a number of years. This meant an enormous amount of splitting on cheques. What i worked out was to enter the Taxable amount on the first line, then when you add the tax code FRE on the second line it shows the balance. That way you do not need to actually do any calculations. Need a bit of care to get the first line right though, as it tends to want to add the tax on - put in the net amount but do not go out of the box. then show as gross and do the split with tax. Sounds a bit wierd, but when you get it to work, it makes the process easy.
The answer to your question is - do what works best for you. Find the ways to make it as easy as possible.
We are currently finishing off a Point of sale integration module that we will be marketing through a number of POS developers. It will import not only your end of day data (down to the actual Banked amounts), but also all the Bills for stock received. That is the way to go. Then all you do is write the cheques.
01-28-2005, 09:39 PM
Thanks again Gibbo,
And for that extra bit of info.
Many thanks Lucy
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