First off, love the program. Its great and I’ve sort of got myself up and running.
second. I hate Accounting! I have no idea what I’m doing.
I have an issue which I’m completely lost over.
I live in Canada Ontario where the TAX is HST @ 13%.I’ve have setup the tax code for 13% and created several invoices which automatically calculate the HST and all is good.
I have expenses (such as Godaddy etc) which are paid via Credit Card and I record these as expenses (Don’t shoot me if this is wrong, I’m learning).
When I click on the Summary Page and look at my ‘Less Liabilities’, the Tax Payable is -700.00 for example. When I click on the figure, it displays all the transactions, however, in the debit column is $13.00 for each entry. so what appears to be happening is for every transaction a debit of $13.00 is applied.
What the hell did I do? or not?
Thanks for the help.