About TaxDetective

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About TaxDetective

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Re: Is there difference between Inclusive of Tax and Exclusive of Ta...

You may need to calculate the ITC differently if you have a not for profit or charity. If you get the same results either way and your taxes are set up properly...

TaxDetective

Updated Jun 23, 2023
Re: Is there difference between Inclusive of Tax and Exclusive of Ta...

Lol it is. I recommend testing each option to see how it works. Use $100 for each test transaction and see what happens. Set up a vendor and call it Test. Go ah...

TaxDetective

4

Updated Jun 23, 2023
Re: Is there difference between Inclusive of Tax and Exclusive of Ta...

Hi yes. You’d use out of scope. The other two are for paying for something with tax in the amount or on top of the amount. You’re not doing either. You’re payin...

TaxDetective

Updated Jun 23, 2023
Re: Is there difference between Inclusive of Tax and Exclusive of Ta...

Hi. You’d use out of scope.Inclusive of tax means you’re going to end up booking tax on a tax which isn’t ok. And exclusive means you are going to charge tax on...

TaxDetective

7

Updated Jun 23, 2023
Solved Re: In order for us to keep track of our margins, we want to...

Btw when you correct the items it will ask if you want to adjust the historical entries. Be very careful here. If you’ve closed a year end and have inventory it...

TaxDetective

Updated Aug 04, 2021

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