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May 23, 2020
Question

I am entering Restaurant Sales through a Recurring Journal entry. This approach does not show up in Taxes as Sales and Taxes collected?

  • May 23, 2020
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1 reply

May 25, 2020

Hello pa7,

 

Recurring transactions can make things simple when you have repeat transactions, and the recurring transaction template can even be set up to use only when you manually ask it to be used. It sounds like you're taking advantage of this option as you record your journal entries and I'll be happy to go over this with you.

 

When you're using a journal entry to record transactions and you want the sales tax to still track to the sales tax module, it's important to note that it's handled differently. By simply adding the sales tax to the line item, it won't hit the sales tax module as you need it to. Instead, you'll want to have the sales tax as its own line on the journal entry and choose the appropriate sales tax line mapping from the Sales tax column. For instance, it might look something like this: Account: GST/HST Payable. Sales Tax: HST ON - Line 103.

 

If you're not sure what to be picking here, I recommend touching base with an accountant. What I've said above is only an example and I don't have the training to back any advice for these kinds of decisions. The My Accountant tab is useful when you need an accountant as it allows you to invite someone you're already working with as a user or to search for someone to help you. Click the Find a pro to help button in that tab for the second of those two options.

 

You can also consider the following process for recording daily sales, since it sounds like that's what you may be doing: Record your total daily sales. This article takes you step-by-step through the process to make sure you have the numbers you need in your books.

 

For your reference, here are a few other articles about what's been mentioned here.

I hope that's been helpful.