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Don't include "sent" invoices in reports until paid

Jim OPhoto   ( User )

Commented 6 months ago

When an invoice gets marked as "sent", the total & taxes are included in generated reports (tax summary, profit & loss, etc) even though payment has not been received. Because of this, the numbers in my reports are incorrect at the time I run them and could cause me to report false taxes.

For example.....1st quarter sales tax runs Jan-March. So by end of April I need to file the sales taxes for Jan-March. If I create an invoice in March and send it to my client through Akaunting (or mark it as sent), the taxes & total in that invoice will be included in the Jan-March report even though I haven't received payment for them. Therefore, my April filing will be incorrect as I ddin't receive payment but I would be filing as if I did.

Because of this, I can't send the invoices to my clients via Akaunting and must keep them marked as "draft". I'll download the invoice manually and email it to them via email directly. Once I receive payment, I'll then mark the invoice as paid...which will then reflect the payment in the respective month for the tax report.

Denis Dulici   ( Admin )

Commented 6 months ago

Hello,

You can already achieve this by choosing Cach as Basis:

https://akaunting.com/hc/docs/reports/creating-a-new-report/

Best regards

Jim OPhoto   ( User )

Commented 6 months ago

Thx for that! I checked it out, and it does what I'd like in terms of not including unpaid invoices, but it doesn't do what I like in terms of payments that have been received for invoices. I'll explain.....

The main benefit I'm using Akaunting for, on top of ease of generating invoices, is running the "profit & losses" report to show my taxable sales each quarter (sales totals without sales tax), along with "tax summary" to show the total sales tax collected each quarter. I then use those numbers - the income total (aka taxable sales) & total sales tax collected - to remit the sales tax I collected to the state every quarter.

an example I'll use to reference....
I create an invoice for a print that costs my client $1000, which generates $67.50 in sales tax (county tax of 20, and state tax of 47.50). When I receive payment, I'll mark the invoice as 'paid'.

When I run a profit & Loss report using the default accrual method, it shows a total income of $1000 for the quarter that payment was collected - my "total taxable sales". And when I run a tax summary report using default accrual method, each tax (county & state), shows a respective total for each for that quarter (20 & 47.50, respectively).

which is exactly what I want to happen.

But...when I run a profit & loss repot as CASH basis, then the report shows 1067.50 as the total income for the quarter....which is what I don't want, as I need it to show 1000 like 'accrual' shows. I can't run "Tax summary" as Cash basis cause it causes a "500 internal server error".

Then after running those reports as accrual basis, I'm able to file/remit my sales tax to the state, showing that I had $1000 in taxable sales for the quarter, with $20 county sales tax collected and 47.50 state sales tax collected. And I'll then remit 67.50 to the state for payment of the sales tax collected.

So.......
For invoices that I haven't received payment for....as long as I leave them set to "draft", their taxable sale & sales tax are NOT included in the two reports I use. Which is perfect. But, once I either email invoices (or select "mark sent") the taxable sales & Sales tax are included in those accrual reports, even though I haven't collected payment. And which is what I dont' want. And changing to "Cash" basis, the income total includes the sales tax...which, again, I don't want.

Hope this rambling makes sense! LOL if not, well, no worries. I'll just keep invoices set as "draft" until payment is received and just download & manually email the PDF of the invoice

Jim OPhoto   ( User )

Commented 6 months ago

okies....pls disregard my book above as I have a much easier way to ask my question about doing Cash as the basis, as I've been playing with it more & more.....

is there a way I can modify the code to exclude sales tax from being included in the "profit & losses" when using cash basis?

Or, as a potential feature to ask for a future version, is there a way to add an on/off switch when creating a new report for profit/loss in which sales tax can be included or not?

I can tally up the quarterly taxes from the "tax summary" report (as cash basis), and then manually deduct those respective taxes from each quarter in the "profit/loss" cash-basis report to give me my taxable sales totals. But if there's a way to just have that done right upon generating the report, that's one less manual step I gotta do when filing my sales taxes.

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