Invoicing a client multiple times with all sales tax at end
Posted: January 30th, 2012, 6:34 pmInvoicing a job multiple times with all the sales tax on the final invoice.
Example the total invoice amount for the job is $1,000. The taxable amount is $1,000. The user wants to send two invoices, the first for $500 (no tax) and the final invoice for $500 plus the tax on the $1,000.
Follow these instructions:
1. Enter the first invoice with a single invoice detail line for $500. Make sure that the taxable column is not checked. Distribute the $500 to the appropriate sales accounts. Print and post this invoice.
2. When it is time to enter the final invoice, enter the first invoice detail line for the full $1,000. Make sure that the taxable column is checked.
3. On the next line, enter the previous invoice amount ($500) as a negative amount, by entering either a negative quantity or a negative price. The second (negative amount) line must not be checked as taxable. (You might want to enter an item description of “Previously invoiced amount” for printing on the invoice.) C21 will calculate the tax on the full $1,000. The invoice Total and Amount Due is $500 plus the sales tax on $1,000.
4. Print and post this invoice. Posting the invoice distributes $500 to the appropriate sales accounts and the amount of the tax to the appropriate tax
accounts. The Payables\Print\Tax Report will also show the total taxable amount and the amount of the tax for each Tax Authority setup in the Tax Group.
Example the total invoice amount for the job is $1,000. The taxable amount is $1,000. The user wants to send two invoices, the first for $500 (no tax) and the final invoice for $500 plus the tax on the $1,000.
Follow these instructions:
1. Enter the first invoice with a single invoice detail line for $500. Make sure that the taxable column is not checked. Distribute the $500 to the appropriate sales accounts. Print and post this invoice.
2. When it is time to enter the final invoice, enter the first invoice detail line for the full $1,000. Make sure that the taxable column is checked.
3. On the next line, enter the previous invoice amount ($500) as a negative amount, by entering either a negative quantity or a negative price. The second (negative amount) line must not be checked as taxable. (You might want to enter an item description of “Previously invoiced amount” for printing on the invoice.) C21 will calculate the tax on the full $1,000. The invoice Total and Amount Due is $500 plus the sales tax on $1,000.
4. Print and post this invoice. Posting the invoice distributes $500 to the appropriate sales accounts and the amount of the tax to the appropriate tax
accounts. The Payables\Print\Tax Report will also show the total taxable amount and the amount of the tax for each Tax Authority setup in the Tax Group.