Expenses and tax

Thanks for your reply Karen – yes please, for us Aussies it would make life a whole lot easier.

For our quarterly goods and services (GST) statements, we need to tally the amount of tax we’ve collected and the amount of tax we’ve paid on our expenses, and subtract one from the other – so if you could produce reports that automate those calculations, that would be awesome.

You’ve already got tax as an optional inclusion on the invoices, which is great (because it’s not charged on all transactions, so we sometimes need to be able to turn it off), but if you could also make it optional on expenses that would be great too.

Hope that makes sense and happy to go into more detail if and when you start thinking about this one.

all the best,
Jayne

Yes I agree with @Jayne this is a feature really needed for Australia. There are quite a few Aussies I know that I know that are using Harvest.

What we are currently doing is entering in the total amount paid (nett plus GST) and then when feature arrives will have to go back and edit to split the amount into Nett and GST.

GST is currently 10% of nett price.

So then what we are doing is just taking 10% off total amount paid, when working out GST paid for ATO (Australian Tax Office). Though as @jayne mentioned GST isn’t always paid on every expense so it isn’t 100% accurate to do it this way though as a workaround is having to surfice.

Thanks Kaz

There are many countries in the world adopting this type of Tax and it creates a problem for recording, billing and getting reimbursed for taxes on expenses. Here is an email I sent to support about it. I’m using the work around for now.

In Canada, HST is reimbursable (from the government) on expenses billed to my Canadian customers. For example, if Parking is total receipt $10.00, but $1.30 of that is HST, I need to report on that separately for my client.

I need to bill my client $8.70 for parking and $1.30 for the HST so they can claim the HST.

On each monthly invoice, I must total all of my services plus the HST (which works fine), but I also need to total all billable expenses but show the HST from each of my expense receipts has a separate total.

I need to record and total the HST separately.

A work around would be for me to create an expense category for this called Expense HST and do two entries each time I do a billable expense submission, one for the HST and the other for the expense, but wondered if there was another way. This work around means I have to fire up the calculator on my iphone, back out the HST from the expense, record the expense and then do a transaction for the HST. A bit painful.

Without this, your invoice module will not work for me.

Should have searched the forum first – just sent a support e-mail on exactly this.

So, let me add a “me too” for this feature. For now, I’m typing the HST tax amount into the notes field so at least it’s captured. but I would like to report on this for my quarterly HST filing.

Chris

It’s good to know that this is on the to-do list. It’ll definitely make a big difference for us Aussies.

This is just a thought and it may not be important to anyone else but I would also like to be able to add suppliers when entering expenses. I imagine this could be done in the same way that you can enter clients. You could then select a supplier for the expense and run reports listing expenses by supplier.

+1 for Ross’ suggestion.

Cheers,
Jayne

Hope this will come soon! :-) Big issue in Norway also!

I was just figuring out how I could use Harvest in my work flow… I’m pretty disapointed this feature isn’t on after a year. I put this comment to show my interess. I think I would continue to use my accounting software to enter expenses at the end of the month.

Thank you!

lots of noting of requests and no doing. I too need to see tax on expenses and also quarterly reporting feature same as invoicing and estimates. Plus a simple cashflow register.

If that can be done then the system would be perfect for my needs.

Another +1 for tracking GST separately on expenses.

A GST or Sales Tax field would be great for Canadians as well (Actually some of us need 2, one for PST and one for GST. We have to total up the GST spent on business items and submit that along with the GST collected on our invoices to CRA since GST is a value added tax (we get the GST back for items that we later sell since items are only taxed once). Having this field in the iPhone app would be great, really speed up processing receipts at the end of the month since we can log them on the fly.

Hi my trial ends in 8 days – any chance the addition of a GST report will be incorporated by then!!!

I LOVE everything about Harvest, but it’s not much good to me at tax time without this feature…I read that other Aussies are in the same boat.