Doing business with USA member states
in Business, Accounting & Taxes ·
I handle the bookkeeping for a travel agency. And now, for the first time, I’m staring down an invoice subject to special taxation rules.
Does anyone out there actually know how to record incoming and outgoing invoices under these specific tax procedures? From what I can gather... they don't count as expenses, nor as revenue—only the margin-based sales tax on that specific reservation counts toward income.
thanks
Does anyone out there actually know how to record incoming and outgoing invoices under these specific tax procedures? From what I can gather... they don't count as expenses, nor as revenue—only the margin-based sales tax on that specific reservation counts toward income.
thanks