Income Tax Details

Feature

Starting with Goldenseal accounting software version 3.6, the Income Taxes report can show more details about each cash transaction-- including the job, job class and cost category, and an item description.

This feature also works for any of the banking reports such as Checking Transactions or All Bank Transactions.

This feature makes it easier to identify expenses and income when using the Income Taxes report to figure your tax bill.

Suggested By

Turtle Creek staff.

How to Use

To add job details to the Income Taxes report in Goldenseal accounting software, follow these steps:

1. Choose Custom Layouts from the Options menu, and choose Reports from the submenu.
2. Enter Taxes into the Area popup field at the upper left portion of the window.
3. Enter Income Taxes into the Report popup field.
4. Click in the report table on the layout.
5. Choose Add Column to Table from the Edit menu.
6. You'll see a list of optional columns. Choose Income Tax Job, Income Tax Job Class or Income Tax Details, then click OK.
7. Repeat steps 5 and 6 for additional columns if you want to show more info.
8. You may want to delete some other columns, enlarge the layout or shift columns in the table.
9. When you have the layout the way you'd like, close the window. Click Save when asked whether to save changes.

The next time you show the Income Taxes report, you'll see the new columns.

Technical Details

For expenses, the Income Tax details fields get information from the transaction that was paid. For example, if a bank transaction pays for just one material purchase, that what will show. If a bank transaction pays for several purchases, the report will show details from the first item in the list.

For income, the Income Tax details fields get information from the transaction that created the income. For example, if a bank deposit covers one sale, that what will show. If a bank deposit comes from several sales, the report will show details from the first item in the list.

Entered 4/13/06 by Casey.