The Tax Summary Report gives you a breakdown of the value of the sales tax you have collected, along with how much you have paid taxes on Expenses.
You can run a Sales Tax Summary Report by doing the following:
- Go to the Reports section
- Select Sales Tax Summary under Accounting Reports.
To adjust your view of the Sales Tax Summary Report, click on Filters under Settings. From there, you can change:
- Reset all - Click on this link to restore the filters back to the default settings
- Date Range - Choose from This Month, This Year, Last Year, This Quarter, Last Quarter, or Custom to enter a specific date range
Sales - Run this by either Billed (Accrual) or Collected (Cash-Based) income:
- Billed - This will pull from any non-draft Invoices and are dated within your date range (both paid and unpaid)
- Collected - This will pull from Payments you’ve received in the selected date range
- Currency - Toggle between multiple currencies
- Total Billed or Total Collected - Total invoiced or collected during the filtered date range, including Other Income and Invoices with no tax applied, Draft Invoices are excluded
- Taxable Amount - The total of all Invoice line items that Sales Tax was applied to, including 0% taxes
- Taxes - The total of Sales Tax that was applied on Invoices
For Less Expenses, which includes both Expenses and Bills:
- Taxable Amount - The total of all Expenses and Bills before tax, that Sales Tax was applied to
- Taxes - The total of Sales Taxes paid on Expenses and Bills
Clicking More Actions in the top right will give you the option to Export for Excel, or Print your Report.