Skip to content
← Share and support customer ideas for Xero

Settings and activity

1 result found

  1. Incorrect Xero Sales Tax returns in the US when Use Tax applies.

    1 vote

    We're glad you're here

    Please sign in to leave feedback
    Signed in as (Sign out)
    Close
    Close

    We’ll send you updates on this idea

    1 comment  ·  Reports & tax » Tax filing  ·  Admin →
    How important is this to you?

    We're glad you're here

    Please sign in to leave feedback
    Signed in as (Sign out)
    Close
    Close
    submitted  ·  System responded

    Thanks for submitting your idea on Xero Product Ideas. We appreciate you taking time to let us know how we could improve Xero for you.

    Your feedback will soon be reviewed by our Community team, and in the meantime this can begin to build support with votes from other community members.

    If you're interested to see recent releases or get a pulse on what's coming soon see The Long and Short of it. 🙂

    An error occurred while saving the comment
    Alan Christenson commented  · 

    I was given a link to read about the "Sales Tax on Imports", and it almost sounded like it would provide a solution to the problem ... almost.

    The problem is that instead of recording the dollar amount of the tax due to a tax expense account, the amount of the tax should be debited to the GL account used for the item(s) purchased. GAAP accepts that the tax cost when purchasing an item is legitimately treated as part of the total acquisition cost of the item(s) and thus, there is no need to have a "sales tax expense" account that it treated separately from the expense category of the purchase. Having the item show up on the Sales Tax Report is good, but the GL treatment of the item is a weakness.

    Alan Christenson shared this idea  ·