Sales Tax

A simple scheme to represent your sales tax on bkper

On Purchase (when you buy) 

The purchase itself 
Supplier (liability) >>  Expense (outgoing) 100 
Supplier (liability) >> Tax(liability) 10 

Paying supplier
Bank (asset) >> Supplier (liability)110

Getting tax back
Tax (liability) >> Bank (asset) 10
 
 

On Sales (when you sell) 

The sale itself 
01/01/16     Product/Service (incoming)  >>  Customer (asset)   110   
01/01/16     Tax (liability)  >>  Product/service (incoming)  10

Receivable payed
Customer (asset) >>  Bank (asset)    110

Paying tax
Bank (asset) >> Tax (liability)   10 

Note: for simplicity we used 10% sales tax in the sample bookings
 
 

Sample book for  Sales Tax
 
 

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