payment

[149motorsports]

How do you record a payment say when the total bill was $113.00 tax included, i gave them a receipt for $113.00, and then they give you a check for $150.00 (a few bucks for a bonus lol)? thanks

 

[Lunatic Taskbar]

I dont know!

But yesterday I got a rounded up cheque that netted me a huge bonus of $3.00 I'm off looking at new cars today! maybe houses tomorrow. Dam and I said it wouldnt change me! With my one he didn't even want his reciept.

But for your issue I honestly dont know! you could pose a hypothetical question to your accountant?

 

[doublesky]

I'd add a $37.00 design time fee, that way it doesn't get taxed. Im really not sure if that is correct though - probably a question for your accountant.

 

[coyote]

Depends on the sales tax requirements for your area. In Maryland, service is not taxed, product is. If there's any extra on a payment (NEVER happens with us), we would call it service, not taxed but declared as income. If service and product are taxed, you'd have to figure the percentage on the extra.
C

 

[SKADSIGNS]

Can you edit to show the invoice to show the actual amount paid?

 

[149motorsports]

i can go back to my files and change the price from 113$ to 150$ (140$ plus tax $9.81)...how he would have the invoice saying $113 and i would have mine saying $150.00 or could i just take the 150-113=$37 and do another invoice stating for another decal? but not give him that invoice?

 

[doublesky]

You dont have to worry about the tax if you put another item, such as design time or installation, for the difference and your done.

 

[149motorsports]

if you buy a car in pa (taxable) then the service is (taxable) i read somewhere, so since vinyl is taxable, shouldnt i charge tax?
thanks

 

[doublesky]

As far as I've been taught, as long as you do not provide a tangible item, then the service (like design time) is not taxable.
BUT i guess you should search PA tax laws... because those I am unsure of.
GO STEELERS!

 

[149motorsports]

When is labor subject to sales tax topic... page 2

http://www.revenue.state.pa.us/revenue/lib/revenue/rev-585.pdf

 

[Si Allen]

It is obviously a tip! It does not go on the invoice!

 

[Checkers]

What Si said - deposit $113 and keep the rest.
BTW, if you're getting a tip, you're not charging enough!

Checkers