Converting from Quickbooks

QB Switch-- Sales Tax

Goldenseal automatically tracks sales tax on your purchases and sales. It handles sales tax in a way that is similar to Quickbooks.

Sales Tax Setup

To enter sales tax that you charge customers, choose Income Setup from the Income menu, and choose Sales Tax from the submenu. You can create a separate tax rate for each sales tax amount that you charge. Enter the tax rates and the tax agency that receives payment.

To enter sales tax that you pay to vendors, choose Cost Setup from the Costs menu, and choose Vendor Sales Tax from the submenu. You can create a separate tax rate for each sales tax amount that you pay.

If you have VAT taxes and deduct what you pay to vendors, choose Cost Setup from the Costs menu, and choose Vendor Withholding from the submenu. Create a vendor withholding that uses Credit to Agency as the Calculation Method.

Each Customer account includes a Sales Tax Rate field where you can can put the usual rate that you charge this customer. Each vendor account includes a Sales Tax Rate field where you can can put the usual rate that you pay to this vendor.

Vendor Sales Tax

When you enter a Material Purchase, Subcontractor Charge or Other Cost, Goldenseal fills in the usual sales tax rate for that vendor. You can change the rate if this purchase uses a different rate.

If you use a detailed breakdown, click in the Tax column to mark the items that are taxable.

Sales & Project Sales Tax

When you enter a Sale or Billing Record, Goldenseal fills in the usual sales tax rate for that customer. You can change the rate if this transaction uses a different rate.

If you use a detailed breakdown, click in the Tax column to mark the items that are taxable.

Paying Sales Tax

Goldenseal automatically tracks the sales tax that is due to each tax agency.

To enter the taxes due as a payable item, choose Pay Bills from the Bank menu, then enter Sales Tax into the popup field at upper right. Double-click on a tax agency to see a detailed list of sales taxes due.

Goldenseal creates an Other Cost transaction for the taxes due to each agency.