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"Tax included" and Your Books
This is a discussion on "Tax included" and Your Books within the Business Talk forums, part of the Business Discussion category; I just got Quickbooks and I am intergrating my orders into the program. Anyway my questions is on items that ...
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(#1)
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| Junior Member  Posts: 7 Join Date: Jul 2007 Location: cypress Real First Name: Nikki Camera: nikon d200 iTrader Rating: (0)
| "Tax included" and Your Books -
10-23-2007, 02:53 PM
I just got Quickbooks and I am intergrating my orders into the program. Anyway my questions is on items that are "tax included" how do ya'll backout the tax of the set price (Say $25) and get your books to come out even... I hope I explained this right... I am typing in say $25 and it adds tax but the $25 includes the tax and I dont how to get the program to recongnize this. Is there a way to set this up? Any help would great! -Nikki |
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(#2)
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| You Can't Be Serious!!  Posts: 12,228 Join Date: Mar 2005 Location: DFW Real First Name: Brad (duh) Camera: Canon Can Others Edit My Photos: Yes iTrader Rating: (11)
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10-23-2007, 03:10 PM
25 / 1.0825 for an 8.25% sales tax --------------------------- Brad Barton, Grand Prairie, TX (DFW) Twitter -- Blog -- Headshots -- Portraits Honest critiques always welcomed. In the random rumblings of a crazed mind, there exist profound moments of crystal clarity. An artist is not paid for his labor, but for his vision. -- James Whistler, Painter, 1834-1903 |
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(#3)
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| Junior Member Posts: 7 Join Date: Jul 2007 Location: cypress Real First Name: Nikki Camera: nikon d200 iTrader Rating: (0)
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10-23-2007, 03:44 PM
i've got the sales tax formula down... what i was wondering is how you (if i can) set up items that include tax, so quickbooks will back out the tax later |
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(#4)
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| Uber Poster  Posts: 2,733 Join Date: Sep 2005 Location: Pine Bush, NY Real First Name: Pete Camera: Canon Can Others Edit My Photos: No iTrader Rating: (3)
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10-23-2007, 03:53 PM
As far as I know QB won't "back out" the tax. You have to do that manually. I send all my quotes as $$$ + tax. Why lose the 8+% IMO? --------------------------- Website: http://www.quinncophoto.com Twitter: http://twitter.com/petequinn |
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(#6)
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| Forum Master  Posts: 1,241 Join Date: May 2006 Location: Webster, Texas Real First Name: Kasey Camera: Nikon Can Others Edit My Photos: No iTrader Rating: (3)
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10-23-2007, 04:31 PM
it won't back out hte tax. you have to do the math before you enter the amounts. welcome to another reason i dislike quickbooks, blah. it seems with a program like this, it should really be able to do the math for you. |
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(#7)
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| Member  Posts: 76 Join Date: Jul 2006 Location: Spring/Klein, north west of Houston Real First Name: Barbara Camera: Canon 30D Can Others Edit My Photos: No iTrader Rating: (0)
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10-23-2007, 10:07 PM
In your item list, create a new item. Name it "X without tax" (X=product) and then set it's detail to not add tax. --------------------------- ~ Barbara Edmondson http://www.NatureFocusProductions.com http://www.GetSewing.com |
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(#8)
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| You Can't Be Serious!! Posts: 12,228 Join Date: Mar 2005 Location: DFW Real First Name: Brad (duh) Camera: Canon Can Others Edit My Photos: Yes iTrader Rating: (11)
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10-23-2007, 10:27 PM
Except that won't withhold tax on your books. --------------------------- Brad Barton, Grand Prairie, TX (DFW) Twitter -- Blog -- Headshots -- Portraits Honest critiques always welcomed. In the random rumblings of a crazed mind, there exist profound moments of crystal clarity. An artist is not paid for his labor, but for his vision. -- James Whistler, Painter, 1834-1903 |
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(#9)
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| Permanently Suspended  Posts: 15,305 Join Date: Apr 2005 Location: Fort Worth, Tx Real First Name: Tom Camera: canon Can Others Edit My Photos: Yes iTrader Rating: (21)
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10-23-2007, 11:22 PM
Brad's right. As far as I know, Quickbooks can't back out the tax. It shouldn't be hard to develop a table with all your possible package pricing and have it show what the backed out pricing would be. $25 = 23.09 etc. |
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(#11)
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| Statesman  Posts: 4,378 Join Date: Mar 2005 Location: Denton Real First Name: Don Camera: Nikon D200 Can Others Edit My Photos: No iTrader Rating: (4)
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10-24-2007, 11:32 AM
None of the other programs that I have seen back the tax out. Maybe some of the high dollar ones will do it??? It only takes a few seconds to do it. I don't do it on individual items. I just put in prom packages and a dollar amount. Even then it is sometimes a penny off. I just add a $.01 handling charge. --------------------------- Don Barnes The Photographers, www.thephotographers.cc The Ark was built by amateurs, The Titanic by professionals. 88mm gray filter plus whatever camera needed to activate it. |
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