I sold something to my customer and the invoice is:
1271,19 + 228,81 ( Tax %18 ) = 1500
Customer paid 500 for this invoice. When I generate the profit & loss statement on accrual basis, it shows:
Income - Sales of inventory item = 1271,19
On cash basis:
Income - Sales of inventory item = 423,72
But for me, it would be more useful if it would show:
Income - Sales of inventory item = 1500 Expense - Tax payable = 228,81 Net = 1271,19
Income - Sales of inventory item = 500 Expense - Tax Payable = 76,28 Net = 423,72
Why I want this function like this?
500 is taken by salesman from the customer but in profit & loss statement it appears as 423,72. This is not real report. And sometimes there is no tax on invoice so I can’t calculate the total. If my suggestion applied, the problem disappear.