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  1. sales revenue relating to sales tax

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    1 comment  ·  Site Suggestions  ·  Flag idea as inappropriate…  ·  Admin →
    under review  ·  AdminAdam Ellis (President, Instaproofs, Inc.) responded

    Thank you for this suggestion! Unfortunately we don’t currently have a way to track the specific items that were taxed at the time of purchase, but a simple way to come up with that number is to use the sales tax you collected and work backwards from it. For example, if your tax rate is 10% and you know that $450 in taxes were collected, you can know that the total taxed was $4500. The formula for that is just [total tax collected]/[tax rate]. In this example it would be 450/.10 = 4500.

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    justine commented  · 

    Thanks Adam. That is what I have previously done but last year we had a sales tax change mid year so I needed to have the actual number.

    justine shared this idea  ·