Doing business with USA member states
in Business, Accounting & Taxes ·
Hello everyone, I could really use some guidance here!
I recently started a new job, and they’ve already tasked me with entering incoming invoices into the tax ledgers. Since I’ve never handled this specific type of accounting before, I’m feeling a bit nervous about making a mistake—especially since I'm still technically on my probationary period.
I noticed that all our business partners are registered in the official federal database and show a tax rate of 0.00. Does that mean they are passing the tax burden onto us?
What I’m truly struggling with is knowing exactly which column of the sales and use tax form these should be entered into.
I have several types of invoices to process:
equipment rentals, masonry work, purchasing formwork, worker lodging, engineering services, equipment transport, and subcontractor services.
Does all of this get recorded on the tax form as an acquisition of goods or services, and if so, at what rate? Also, do I list them under both the delivery and receipt columns (the assessment category), or is there a different way to handle it?
Additionally, how should I handle invoices from April and May? Do I include those in the June filing, or is there a different procedure for late entries?
I also noticed some invoices where nothing is specified regarding tax transfers, even though the vendor is in the federal database and shows a zero tax rate. Should these still be included in the tax filings?
Whoever can help me out gets a chocolate bar!😍
I recently started a new job, and they’ve already tasked me with entering incoming invoices into the tax ledgers. Since I’ve never handled this specific type of accounting before, I’m feeling a bit nervous about making a mistake—especially since I'm still technically on my probationary period.
I noticed that all our business partners are registered in the official federal database and show a tax rate of 0.00. Does that mean they are passing the tax burden onto us?
What I’m truly struggling with is knowing exactly which column of the sales and use tax form these should be entered into.
I have several types of invoices to process:
equipment rentals, masonry work, purchasing formwork, worker lodging, engineering services, equipment transport, and subcontractor services.
Does all of this get recorded on the tax form as an acquisition of goods or services, and if so, at what rate? Also, do I list them under both the delivery and receipt columns (the assessment category), or is there a different way to handle it?
Additionally, how should I handle invoices from April and May? Do I include those in the June filing, or is there a different procedure for late entries?
I also noticed some invoices where nothing is specified regarding tax transfers, even though the vendor is in the federal database and shows a zero tax rate. Should these still be included in the tax filings?
Whoever can help me out gets a chocolate bar!😍