Knowledge Base Getting Started Frequently Asked Questions

How to run a sales tax report

This article explains how to run a sales tax report, which help you fill in any returns you need to file with your tax authorities.

To find the report, click the option between Banking and Accounting on the middle menu. This will show the name of your sales tax(es). In the example below, this is 'GST'.

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This brings up the tax(es) report screen.

First choose your report dates, which should be the dates covered by your tax return.

report_dates

Then select 'Show Report'.

FreeAgent will then show you the sales tax payable on your invoices, less the tax you can reclaim on any bills, expenses or bank payments, between the dates you chose.

report_content

The sales tax report is based on invoices issued. Each time you create an invoice item, you should choose the sales tax rate for that item. Each time you enter a bill, expense or bank payment, you should choose the rate of tax you can reclaim. FreeAgent then adds all these transactions up in the sales tax report.

 

 

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