Hello, I just came across this awesome software and i gotta say, i am happy I found it. Great work by developers. (I am actually thinking of buying the Linux server edition, but first need to get familiar with it).
Anyways, i owned a IT Consulting and repair shop business, so I need some assistance to set Manager correctly. so my questions are:
1- How to record a refund from a supplier/vendor on a expense account (non inventory) transaction made with payments: example full refund for a bank charges
2 . in the other hand, how to properly record a refund from supplier for a Non-Inventory item such a computer part needed to repair a computer?
3-in our business we use square for credit card payments, however square final transactions are posted on my bank feeds without the square fee, in other words, if we sale a item or services for $100 and customer pays with credit card, square sends only 97.25 dollars to our bank, so what type of account is the square fee? perhaps “liability account”?
4-we do have partnership with different companies, for example we resell software, and we gain residuals every month, how should i categorize this accounts? Perhaps COGS?
5-and Finally for now, how to create a sales tax report, here in US we need to pay sales tax either every 3 months or yearly.
thanks, i am sure ill come back with more questions as i continue exploring this software.