![]() (In case the tax table is selected as None, there is still provision to select it under invoices). ![]() Under Billing Information, select the currency as required based on the location. The following screenshot shows a sample for the fictitious company discussed earlier. Enter the details of the customer such as name, billing address, phone, email, etc. Again click OK at the Tax Tables window to close it.ģ] To add the customer, from the top menu select Business -> Customer -> New CustomerĤ] The “New Customer” popup window opens. Also select “Liability” for Account Type and the Sales Tax Account that was created in step 1 above (“Ontario GST/HST payable) for Parent Account. At the new GnuCash Tax Table window, enter the name of the tax table (for example, “Ontario Sales Tax (GST/HST)”) and then the type (usually percentage%) and value (for example 13 for Ontario – Canada). Enter the name (for example, “Ontario GST/HST payable” for the business which operates from Ontario, Canada) and description as in the following screenshot :Ģ] Create the tax table by selecting Business -> Sales Tax Table from the top menu and then clicking on “New” button at the Tax Tables popup window. This is done by right clicking on the “Liabilities” top-level account and selecting “New Account” from the popup menu. Softpro Consulting Inc” does software consulting work for this customer on an hourly basis and we are going to see how to create the invoice and process it.ġ] Create a new liability account for keeping track of Sales tax. In this example scenario, we are going to create a new fictitious customer called “Mountainside Company Inc”. The amount of sales tax which needs to be collected while making the sales transaction can also be updated through tax table. The billing terms includes details such as within how many days after the invoice was created and service rendered, the payment has to be posted if there is any discount allowed when payment is made within specified days, etc. If you have already agreed with the customer about the billing terms, it can be entered within the Billing Terms dialog box. To start with, collect details about the customer, such as the name, address, phone, etc. In this post, let us look at how to add information about customers and sales invoices as well as processing related sales transactions in GnuCash. Usually when selling something, an invoice is created in order to document the details of the sale. Major part of the business income is generated from sales to customers. Any business needs customers for its continued existence.
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