| Author |
Message |
John Pippy
Guest
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 Posted:
Sat Oct 15, 2005 12:03 am Post subject:
Help on Entering Transaction G/HST |
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Company pays for lunch for employee while on delivery.
The company can only claim 50% of the cost of the meal and therefore can
only claim 50% or the associated HST on the meal
How would this receipt be entered in Quick Books if I only can claim 50% of
the cost
Lunch 19.25
HST 2.89
Total 22.14
Is there anyway in Quickbooks where I can set it up that when I enter the
total of the receipt it would automatically do the proper calculations
JP
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Ron Anderson
Guest
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| Posted:
Sat Oct 15, 2005 12:03 am Post subject:
Re: Help on Entering Transaction G/HST |
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I am no accountant, and it would be best if you consulted yours, but I just
enter the entire amount and I believe the tax guy or the tax form does the
50% part.
--
Ron Anderson
A1 Sewing Machine
PO Box 60
Sand Lake, NY 12153
518-469-5133
http://www.a1sewingmachine.com
"John Pippy" <pippypark@gmail.com> wrote in message
news:hoT3f.108777$Ph4.3313951@ursa-nb00s0.nbnet.nb.ca...
| Quote: | Company pays for lunch for employee while on delivery.
The company can only claim 50% of the cost of the meal and therefore can
only claim 50% or the associated HST on the meal
How would this receipt be entered in Quick Books if I only can claim 50%
of the cost
Lunch 19.25
HST 2.89
Total 22.14
Is there anyway in Quickbooks where I can set it up that when I enter the
total of the receipt it would automatically do the proper calculations
JP
--
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| Back to top |
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Guest
|
| Posted:
Wed Oct 19, 2005 8:04 am Post subject:
Re: Help on Entering Transaction G/HST |
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You should definitely talk to your accountant about this. Depending on the
facts, you may be eligible for a 100% deduction (for tax purposes).
"Ron Anderson" <ron@a1sewingmachine.com> wrote in message
news:y%U3f.310$aV5.219@newssvr30.news.prodigy.com...
| Quote: | I am no accountant, and it would be best if you consulted yours, but I just
enter the entire amount and I believe the tax guy or the tax form does the
50% part.
--
Ron Anderson
A1 Sewing Machine
PO Box 60
Sand Lake, NY 12153
518-469-5133
http://www.a1sewingmachine.com
"John Pippy" <pippypark@gmail.com> wrote in message
news:hoT3f.108777$Ph4.3313951@ursa-nb00s0.nbnet.nb.ca...
Company pays for lunch for employee while on delivery.
The company can only claim 50% of the cost of the meal and therefore can
only claim 50% or the associated HST on the meal
How would this receipt be entered in Quick Books if I only can claim 50%
of the cost
Lunch 19.25
HST 2.89
Total 22.14
Is there anyway in Quickbooks where I can set it up that when I enter the
total of the receipt it would automatically do the proper calculations
JP
--
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| Back to top |
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