Tax Summary

Tax time? The Tax Summary pulls together what you need: tax collected on your Invoices, tax paid on your expenses, and the difference.

Go to Reports and open Tax Summary.

Pick a Period

Click This month, Last month, This year or Last year. Or click the date range to pick your own start and end dates.

The Totals

Total	What it means
Tax Collected	Tax on your Invoices in the period.
Tax Paid (expenses)	The Tax Paid you entered on expenses in the period.
Net Tax Liability	Collected − Paid. Roughly what you owe.

Every Invoice dated in the period counts, whether it’s been paid or not, and even if it’s still a draft. Expenses count by their expense date. If you refunded part of an Invoice, the tax on the refunded part is taken off.

Collected by Rate

The Collected by Rate tab breaks down the tax you collected by each tax rate:

Tax: the tax rate’s name.
Rate: its percentage.
Invoices: how many Invoices used it.
Taxable Base: the amount the tax was charged on.
Tax Collected: the tax itself.

Tax Paid Detail

The Tax Paid Detail tab lists each expense with tax paid: its Date, Description, Amount and Tax Paid, newest first.

To have an expense show here, fill in Tax Paid ($) when you add it. See Adding an Expense.

Download It

Click Export to download the Collected by Rate breakdown as a CSV file for your accountant or spreadsheet.