Hi All,
In the PO, I need to roll the sales tax into the purchase cost (debit inventory or debit purchase expense), on the credit side, I need it to hit AP. Just AP only, no Sales Tax Payable. If it hits the Sales Tax Payable account, it would be fine, too, but it needs to back out of the same account. Meaning, sales tax payable in & out = zero. When I run the tax report at the end of the month or quarterly or whenever needed, I'm able to generate the sales tax payable report. Is there such an option or workaround? Thanks so much for your feedback.
To roll the sales tax into purchase cost, I have the charge code as seen below.
