Amount includes GST on Sales Report

Software: Intuit QuickBooks accounting software

GST Output is a liability not an income. Hence, you can’t show a Profit and Loss report with the GST amount being added to the Income account.

However, you can print a Daily Sales Summary report with a Net, Tax, and Gross amount of each invoice. From the Daily Sales Summary report, you can drill into the transactions to have a detailed breakdown of the item sold.

Daily Sales Summary

To print the report, go to the Reports menu > Sales > Daily Sales Summary

The Daily Sales Summary report is only available in Intuit QuickBooks, for those users who are using the Reckon Accounts (or Reckon QuickBooks accounting software), may use the Sales by Customer report instead.

In the Sales by Customer report on the Reckon Accounts, click the Modify Report button and follow by clicking the Advance button to get into the Advance setting of the report. Select the “Gross” radio button under the Tax Basis to print the report with a gross amount (amount includes tax) instead of the default net amount.

Discover more from Solarsys

Subscribe now to keep reading and get access to the full archive.

Continue reading