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Sole Propertoship (accounts literals) | Incomes & Expenses Accounting with Sales Tax
USA
Income & Expense Accounting with vat/sales tax
Business
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Sole proprietorship
Basic Currency: CAD
Income & Expense accounting with VAT/Sales tax
| Group | Account | Description | Sum In |
|---|---|---|---|
| Financial position | |||
| Assets | 1 | ||
| Cash | Cash | 1 | |
| Bank | Bank assets | 1 | |
| Visa | Credit card Visa | 1 | |
| 1 | Total Assets | 1-2 | |
| Liabilities | 2 | ||
| Suppliers | Suppliers | 2 | |
| Loan | Bank loan | 2 | |
| ST | Sales Tax owned | 2 | |
| STA | Sales Tax (automatic account) | 2 | |
| 2 | Total Liabilities | 1-2 | |
| 1-2 | Net Assets |
| Group | Category | Description | Sum In |
|---|---|---|---|
| CASH FLOW | |||
| INCOME | 3 | ||
| Sales | Cash sales | 3 | |
| Miscellaneous income | Miscellaneous cash receipts | 3 | |
| Interest income | Interest income | 3 | |
| Tax refund | Income tax refund | 3 | |
| 3 | TOTAL INCOME | 3-4 | |
| EXPENSES | 4 | ||
| Product costs | Direct product/service costs | 4 | |
| Salaries | Salaries direct | 4 | |
| Payroll taxes | Payroll taxes and benefits direct | 4 | |
| Supplies | Supplies | 4 | |
| Advertising | Advertising and promotion | 4 | |
| Automobile | Automobile/Transportation | 4 | |
| Bank charges | Bank service charges | 4 | |
| Licenses | Business licenses and permits | 4 | |
| Charity | Charitable contributions | 4 | |
| Computer | Computer and internet | 4 | |
| Education | Continuing education | 4 | |
| Subscriptions | Dues and subscriptions | 4 | |
| Insurance | Insurance | 4 | |
| Meals | Meals and entertainment | 4 | |
| Merchant fees | Merchant account fees | 4 | |
| Office supplies | Office supplies | 4 | |
| Postage | Postage and delivery | 4 | |
| Printing | Printing and reproduction | 4 | |
| Legal services | Professional and Legal services | 4 | |
| Rent | Rental payments | 4 | |
| Subcontractor | Subcontractor | 4 | |
| Telephone | Telephone | 4 | |
| Travel | Travel | 4 | |
| Utilities | Utilities | 4 | |
| Website | Website development | 4 | |
| Other costs | Other costs | 4 | |
| Interest expense | Interest expense | 4 | |
| Tax expense | Income tax expense | 4 | |
| 4 | TOTAL EXPENSES | 3-4 | |
| 3-4 | OPERATING RESULT | 00 | |
| CAPITAL IN | 6 | ||
| Loan injections | Loan injections | 6 | |
| Owners injections | Cash injections by owners | 6 | |
| Sales fixed assets | Sales of fixed assets | 6 | |
| 6 | TOTAL CAPITAL IN | 5-6 | |
| CAPITAL OUT | 5 | ||
| Loan reimbursements | Loan reimbursements | 5 | |
| Owners disbursements | Cash disbursements to owners | 5 | |
| Purchases fixed assets | Purchases of fixed assets | 5 | |
| 5 | TOTAL CAPITAL OUT | 5-6 | |
| 5-6 | CHANGE IN CAPITAL | 00 | |
| 00 | NET CASH CHANGE - Inflow(+) Outflow(-) | ||
| VAT Code | Description | %VAT |
|---|---|---|
| Last update: Jan xx, 2020 | ||
| State X1 (paid ST, county) | ||
| Sales tax charged County A1 | ||
| CZipCode1 | ST Charged for City 1 | 7.00 |
| CZipCode2 | ST Charged for City 2 | 7.20 |
| Sales tax paid County A1 | ||
| PZipCode1 | ST paid for City 1 | 7.00 |
| PZipCode2 | ST paid for City 2 | 7.20 |
| Total sales tax for County A2 | 1.50 | |
| CZipCode3 | ST Charged for City 3 | 7.10 |
| CZipCode4 | ST Charged for City 4 | 7.30 |
| Sales tax paid County A1 | ||
| PZipCode3 | ST paid for City 1 | 7.10 |
| PZipCode4 | ST paid for City 2 | 7.30 |
| Total sales tax for County A1 | 1.60 | |
| Sales tax Exeptions for State X1 | ||
| EX1-01 | Tax exeption State X1 for purpose 1 | |
| EX1-02 | Tax exeption State X1 for purpose 2 | |
| Total State X1 | 5.00 | |
| State X2 (no paid, no county) | ||
| Sales tax charged State X2 | ||
| CZipCode10 | ST Charged for City 10 | 7.00 |
| CZipCode11 | ST Charged for City 11 | 7.20 |
| Sales tax paid State X2 | ||
| PZipCode10 | ST paid for City 10 | 7.00 |
| PZipCode11 | ST paid for City 11 | 7.20 |
| Sales tax Exeptions for State X2 | ||
| EX2-01 | Tax exeption State X1 for purpose 1 | |
| EX2-02 | Tax exeption State X1 for purpose 2 | |
| Total State X2 | 5.00 | |
| State X3 (no paid, county) | ||
| Sales tax charged County A20 | ||
| CZipCode20 | ST Charged for City 20 | 7.00 |
| CZipCode21 | ST Charged for City 21 | 7.20 |
| Total sales tax for County A20 | 1.50 | |
| Sales tax charged County A30 | ||
| CZipCode30 | ST Charged for City 30 | 7.00 |
| CZipCode31 | ST Charged for City 31 | 7.20 |
| Total sales tax for County A20 | 1.50 | |
| Sales tax Exeptions for State X1 | ||
| EX3-01 | Tax exeption State X1 for purpose 1 | |
| EX3-02 | Tax exeption State X1 for purpose 2 | |
| Total State X1 | 5.00 | |
| State X4 (no paid tax, no county) | ||
| CZipCode40 | ST Charged for City 40 | 7.00 |
| CZipCode41 | ST Charged for City 41 | 7.20 |
| Sales tax Exeptions for State X4 | ||
| EX4-01 | Tax exeption State X1 for purpose 1 | |
| EX4-02 | Tax exeption State X1 for purpose 2 | |
| Total State X4 | 5.00 | |
| Total final for control | ||