We remit Gross Receipts tax to the state based on when we collect the funds from the customer and not when we bill the tax. The ability to reconcile the gross tax payable account would make it easier to project what is payable to the state each month.
There is a report to show what sales taxes have been accrued for the month so surely a similar report showing what has been collected from our customers wouldn't be that complicated.

by: Leigh J. | over a year ago | 8 Reports and Inquiries