Book your sales taxes on Bkper so, you know at any moment your balance on taxes receivable or payable.

Content

Taxes Included in the sales price

on purchase

on sales

settlement

Taxes NOT included in the sales price

on purchase

on sales

settlement

Taxes Included in the sales price

Tax on purchase (when you buy)

  • The purchase itself 
  • Reserving the Sales Tax

 see example
 

Tax on sales (when you sell)

  • The sale itself 
  • Reserving the Sales tax

 see example 


The examples use simplified cash basis for easy understanding. You can also set more complex tax flows involving accounts payable and receivable instead of the direct Bank.

Settlement  

Closing the Sales Tax period: Balance Tax in with Tax out to calculate the due (or receivable) amount. 

Automate Sales Tax transactions with our Tax Bot.
 

Taxes NOT Included in the sales price

Tax on purchase (when you buy)

  • The purchase itself
  • Reserving the Sales Tax

see example

Tax on sales (when you sell)

  • The sale itself
  • Reserving the Sales tax

see example


Tax representation/calculation is simplified for these examples.

Settlement

Closing the Sales Tax period: Balance Tax in with Tax out to calculate the due (or receivable) amount.

Automate Sales Tax transactions with the Bkper Tax Bot.

Note: These are general and simplified examples of booking sales taxes into your Books, always consult your local tax specialist on how to book sales taxes correctly into your bookkeeping.

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