Idea: New Total - select groups/accounts

We currently have multiple products sold in different categories. I would love the ability to track tax exempt sales in a separate total.

I am aware I could set this up by listing tax exempt items first, then adding a total between them and the next accounts/groups.

The problem is that we have tax exempt items in separate areas, an example: we sell honey, as 1 item in a product line of many items. Honey is tax exempt, but the other items are not. We track the line, with a distinction between the exempt and normal items. Then we also sell mead, normally a taxed item. When we ship the mead out of state, the tax is collected by another company and distributed to the various states on their end. Since they are shipped out of state, we do not pay state sales tax and therefore they are also exempt. We track the mead sales separate from the honey (and other items) lines.

I would love the ability to show tax exempt items as a total for sales tax reporting. Since the chart of accounts is not supposed to show the same values multiple times (tax exempt being shown twice in this example) maybe have a special location it could be seen at a glance on the summary.

This may be difficult to implement and not important enough. But it is an idea.

The ability already exists in multiple ways. Nothing needs to be implemented. You just need to set things up to do what you want:

  • Create a tax-exempt, 0% tax code and apply it to sales of tax-exempt inventory items.
  • The inventory items can be set up to automatically apply the tax-exempt code when they are included in a sales transaction.
  • The Tax Summary and Tax Transactions reports will report sales of items coded with the tax-exempt code.
  • You can assign the tax-exempt inventory items to special income accounts, so they will be reported in a separate category on your Profit and Loss Statement.

The first bullet enables you to do the second and third. The fourth does not require the first.