sfitisemanu
Sep 25, 2007, 09:07 AM
In setting up our chart of accounts for our newly installed Oracle, I have to set up accounts for Sales Taxes.
One account is for Sales Tax collected, which is a liability account
The other one needs to be set up for Sales taxes charged on purchases of resale goods. What account should I set up for the latter and in what portion of the Financial statement should it appear?
Thanks
One account is for Sales Tax collected, which is a liability account
The other one needs to be set up for Sales taxes charged on purchases of resale goods. What account should I set up for the latter and in what portion of the Financial statement should it appear?
Thanks