5 posts shown.
It really just comes down to what the business owner wants and how much tax they're looking at. Generally speaking, you set aside a deposit first, and then you just deduct that specific amount from the total down payment later on.
Actually, everything is still being handled according to the rules that were in effect back in 2016.
Lisa Nelson4 said:I've been digging around trying to find where that’s actually stated officially, but honestly, I haven't found anything yet. Plus, from what I can tell, Synesis pulls everything into the accounts payable and receivable records as long as it's been posted through the accounting system—regardless of how the money actually changed hands.
Check out Article 37 of the Federal Income Tax Code.
Technically, you’re supposed to include everything—liabilities and receivables alike—but I always wonder if we really need to track every single invoice settled through a bank transfer. Personally, I keep a close eye on my cash transactions too, just because I can.
I’m looking to dig into some specifics regarding importing food items—think things like sauces, spices, or canned goods—from China in smaller quantities, mainly because I'm keeping an eye on shelf life...
Has anyone here actually dealt with the customs process for this kind of stuff? Any weird regulations or special requirements I should know about when bringing these goods into the US?