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Posts by Jessica Grant56

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Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 29, 2013

So, I finally sat down with the RBA data and went through every single tax payment from the last three years. I tallied them all up and cross-referenced everything against our total tax liabilities from the final accounts—including back to 2012—and the math is solid. It’s as accurate as it gets...! Even UPenn couldn't find a way to dispute it. My own credit card statement is slightly off, but honestly, that's just a minor hiccup that I'll get sorted out soon enough!

Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 28, 2013

ruggedcyclist74 said:I take a similar approach; I record all current year payments to account 2 just to keep things from getting messy, and then at year-end, I pull the corporate income tax card, strip out the interest and last year's obligations, and move the net amount of prepaid taxes over to account 1... which covers our tax prepayments receivable.

Since I don't really have a deep handle on this stuff—you know, the whole dance between income tax, prepayments, liabilities, and when everything actually clears on my IRS ledger—I just follow my own logic. (And yeah, I know, this is probably a terrible way to navigate such murky waters!) For years now, I've been booking everything to 243. It’s how I’ve always done it, and honestly, nobody has ever flagged it because, logically speaking (good grief...), there aren't any receivables. If there was an overpayment, I just pay a little less on the next installment, and the balance on my IRS ledger returns to zero. Is there really any actual reason to complicate things by involving 143 if everything stays perfectly balanced on 243?

(My head is spinning a bit here—I have nothing sitting in 143, yet I'm still struggling with the 243 balances for 2011... but as far as the IRS is concerned, we're at zero and everyone is happy!)

Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 28, 2013

Henry Edwards33 said:Are you seriously still hunting for logic in this mess? 🤣😂🤣😂

You're being incredibly dense here. 😉

That's not true—I'm just being an idiot. Honestly, why don't you admit where you were wandering off to while the rest of us were actually putting in the work???

@ Carol Price4: And here I am, stubbornly searching for logic in a place where it clearly doesn't exist... It's the exact same space, the exact same industry—but the treatment is totally different depending on who's running the show. I guess Liti is right. It's pure madness.

Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 27, 2013

Carol Price4 said:Of course, you fall under fiscalization based on your primary business type—just like you said, hospitality starts Jan 1st, retailers on April 1st, everyone else on July 1st. I thought that was obvious, sorry, 🙂

Vending machines aren't covered... that's just how they decided, so you can just ignore it...

Yeah, but what's the bottom line here?? Let's say a pizzeria uses a parking lot, but they lease it out to some other small LLC—there's no fiscalization requirement until April 1st for them, but if that small firm didn't exist, the requirement would kick in on January 1st for the restaurant... It's the exact same space and the exact same business activity, right?

Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 27, 2013

Carol Price4 said:Look, if you're using a kiosk or an automated machine, those aren't subject to sales tax reporting—but if there's a gate where you grab a ticket and then hand cash to an attendant on your way out, they definitely have to report that income.

Point 7.
http://www.irs.gov/tax-guide-example-placeholder.pdf

It’s really not clear at all—you didn't actually say WHEN this kicks in??

Here's how I see it: It all depends on who is running the lot and whose Tax ID ends up on that receipt. If the parking belongs to some local diner—say, an unknown cafe—they have to start reporting everything on January 1st (since parking is technically part of their hospitality business, right?). But if it's a massive corporation, like a giant shopping mall, yet they hire a small third-party contractor—maybe a cleaning service, a valet company, or some veterans' cooperative—to manage the lot, and that small company's Tax ID is what shows up on the receipt... then nothing changes until April 1st. Because, legally speaking, it's just a small merchant providing parking.

And honestly, who is even watching the kiosks? Is it a specialized enforcement squad, an Apache helicopter hovering overhead, or maybe a circus pony trotting by?? Or is it just that feeling you get when you try to grab a prize from a machine and it always slips out of your hand? We all know that when a huge box of cash comes in, only about 10% actually gets reported. Why wouldn't they skip it? A simple relay could track the count, but it's not sealed, and the owner is the one "counting" the money... and let's face it, it adds up. It's not pocket change; it's enough to cover a monthly paycheck. Not to mention all those vending machines that sell hot coffee and everything else.

Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 25, 2013

Carol Price4 said:You fall under that first category—so just give this a read to see what you need to do.

Best,

Seriously though—can someone tell me how the parking situation is? Like, can you still pay with cash??

Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 24, 2013

Raymond Martinez10 said:Of course you can. And hey, don't be surprised if they don't actually cut the check until 2015 😂

Oh, please—give me a break with that nonsense... 😂 If you want my honest prediction on how this is all going to play out? It might never happen. Or maybe it’ll just be a long, slow wait until much later on.

Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 24, 2013

Jessica Grant56, I’m still reeling here. Please tell me I haven't completely lost it—if I’m paying out $4.00 based on my 2011 earnings right now in 2013, does that mean I can’t even file for a tax refund until 2014???

It’s always me against the IRS. I try to play by the rules, and they just find new ways to reach into my pockets... what a joke.

Hey Lili, come out from whatever corner you're hiding in! Where have you been?? Are you also getting squeezed by the government?

Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 22, 2013

Man, you can’t even ask one of those tech evangelists how many hours they've logged without them—or their alter ego—jumping in with some unsolicited opinion...

So, looking at this: has anyone else tried opening multiple registers in Accenture? I am running into one glitch after another! The funniest part—if you can call it that—is when a receipt is assigned to, say, Register 3, then the delivery note won't let you use that same register at all.

It looks like they really dropped the ball on this one; it feels like a major design flaw. For instance, I can't use Register 2 even though there isn't a single thing recorded in it. I tried starting a receipt just to test it, deleted it immediately, and—boom—locked out. It won't even let me delete Register 2 to start over.

Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 21, 2013

Richard Howard55 said:Hard to beat that, I guess. 🙂

Give me a break—I’m practically frozen solid over here... Eight whole pages just for a working title like "A Journey Through Red Tape"?!? It feels like they designed this specifically so any sane user—aside from you professionals—would freeze up at the first sight of it and run for the hills.

At this rate, I might as well just slap my name and Social Security number on it, write "PEMZIĆ" at the top, and hit submit—let them figure it out themselves. Oh, and I should probably include my capital gains info too. Which is really just moving numbers from one empty pocket to another, since there isn't actually any profit to report after all those loans. They're just killing small businesses at this point!!!!

Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 21, 2013

Richard Howard55 said:@Dubo, it is in Synapse, located within the Honorary module.
That said, Mr. Vlad gave you some solid advice. Just handle the tax side of things that way, then go to a bookstore, buy a certificate, handwrite it, and attach it when you file your tax return. 🙂

I hate to be that guy, but I have to correct you there—I doubt 90% of users actually touch the Honorary module! You always seem to assume us "average Joes" only have access to the bare essentials, and apparently, honoraries don't make the cut.

Anyway, someone else usually jumps in right away to point you in the right direction, so you'll get this sorted out in no time!

Thanks, everyone!

Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 21, 2013

Raymond Martinez10 said:If you can't find it on the Silicon Valley site, just head over to the FBI's e-business portal—they have an XLS form there that you'll need to convert into an XML file. Burn it to a disc, attach the cover sheet, and hand it all in to the FBI 😉

I really appreciate the help, Vlad.

Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 21, 2013

Richard Howard55 said:If you've only got standard salaries and paid sick leave, the Payroll module covers everything. Your IP info will be on the media you submit electronically to the FBI.

The SSN form is located within the Honorarium module, where all types of income related to secondary earnings and capital gains are calculated. That's also where owner distributions are handled—which is interesting this year because of the $4000 tax-free threshold used to claim refunds via an annual income tax return.

That SSN form basically "fills itself out" by pulling data from existing calculations, provided they've been paid, and can then be submitted to the FBI electronically.
If you had taxable distributions to pay out, you'd need the SSN form; otherwise, you don't.

Since word is this might be the last year we have to file these specific forms with the FBI (maybe next year too), it probably doesn't matter much how we get them in this year.

Thanks for such a thorough answer! Since I've decided to do my part for the country by using those $0.50 taxes on already taxed profits—I definitely still need that SSN. So, let me try asking again: where on earth is this SSN form hiding?? I'm starting to think it's some "external" thing that isn't actually located within Silicon Valley?

Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 20, 2013

Richard Howard55 said:The IP form needs to be on physical media (CD, USB, floppy, whatever—don't go thinking you can just send it over the internet) and
the ID-1 form (Honorarium module) should also be on a physical drive.

Also, could you tell me—just out of curiosity—what do they call that ID-1 thing over at Silicon Valley? There aren't any extra bonuses there, just standard salaries and sick leave reimbursement.

Yeah, trying to do this via the internet is a bit of a headache; those guys haven't even properly entered the 20th century yet. Long live the steam engine.

Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 19, 2013

So, everyone’s gone quiet on me... Honestly, if it weren't for the Associated Press, I’d be left just talking to myself—well, maybe with a couple of honorable exceptions. Seems like everyone's buried under a mountain of work, huh?

I have a quick favor to ask—if any of you could take a little break from the grind to let me know what needs to be turned in by January 31st? Just one tiny addition: please include the specific name of that document as it appears in Silicon Valley...

Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 19, 2013

Richard Howard55 said:Man, I need a double ☕☕ coffee right about now. We earned it!
(Cleaned up the books, filed the internal memo 🙂 ) 🙂 🙂

🙂 🙂

Hold on there, optimist... I'm barely halfway through the mountain of dilemmas hitting me right now! We can take a break for a cappuccino, or even a chocolate mocha—whatever you're feeling. There are still plenty of questions left, so whenever you feel up to it. Though, honestly, I think we might have actually cleared most of them—I just want to make sure I didn't miss anything you said.

Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 19, 2013

Jessica Grant56;43196819 said:
Richard Howard55 said:The balance will settle once you close out class 7, so just leave it be; there’s really no point moving it to extraordinary expenses.

Let’s draft an internal memo now. 🙂 (If things get confusing, we can hop off this virtual coffee break so people can actually breathe and grab a real coffee—or maybe a drink, if they feel like it).

Oracle is one software; Square is another. They "talk" to each other, sure, but they are separate programs, unlike modules you simply plug into Oracle.
In other words, everything is Oracle except for the Square system. That’s the main distinction being asked at the start: are you one or the other?
Moving on:
- If you have a Square system and run all payments through it—whether it's goods or services—that counts as one payment device, since the invoice numbers follow a continuous sequence.
However, if you process goods through Square, but use the Retail II module for specific tasks like generating a cash receipt, then that Cash Receipt Document becomes a second payment device (it's easiest if both share the same business location ID).
If you're also issuing R-Bills from Retail II, that makes it a third payment device within the same location.
Now, if you sell something via the Salesforce module using an Invoice Document, and later just transfer enough stock from retail so your inventory (the Roban module) hits zero, then that Invoice Document is a fourth payment device.
If you have another warehouse (in the Roban module) with its own inflows and outflows (like an Invoice or a Delivery Note), then that Invoice is a fifth payment device. It can still carry the same location ID if it's physically in the same spot; if it's at a different site, it gets a location ID of two, but the device number stays five, because Oracle won't allow duplicate payment device numbers even for separate locations.
If you issue a credit approval to a customer (from the Salesforce module), that's a sixth payment device, and so on, etc...

Once you've opened all those Documents as payment devices (the ones you actually use, obviously), the software will automatically generate the invoice sequence decision starting from 01/01/2013.

The only thing that matters is that before you create that decision, you need to go into every Document you've designated as a payment device and fill out the F10 parameters.

Alright, let's hear your take, but not here. 🙂

Honestly, this whole thread has been worth my time—mostly because it shows how much little things can stress people out when they don't quite grasp the technical side of things... So, thank you for the reply, and thanks for all the answers, too. I really appreciate you taking the time to educate someone who clearly didn't know any better. It makes sense now—once we close out the seventh category, everything should fall into place—but still... I wish you'd given me a heads-up earlier, though I get it now.

Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 18, 2013

Richard Howard55;43196677 said:The suspense account should just be closed out along with Class 7 and left alone—there's really no point in moving it over to extraordinary expenses.
Let's try drafting an internal memo now. 🙂 (If we run into any snags, let's step away from this virtual coffee break so everyone can actually catch their breath and enjoy a real cup of coffee—or maybe a drink, if they're feeling like it).
- QUOTE]

I'm going to skip the second part of your reply since I already answered you—basically, the solution is just to open more payment locations within the same space!! Crystal clear, thanks.

I’m not so sure about the whole "internal memo" idea... Honestly, Lili started this thread as a way to escape all those other tedious topics, and look who showed up: we’ve all known each other on this forum for years, and we're all pretty "normal" folks here!! That’s why I’ve loved writing in this thread—I know nobody is going to jump down my throat or start arguing about whether the Earth is flat (while I'm busy talking taxes!). We cover everything from the bottom of the barrel to the stuff that's actually relevant or things people are currently confused about... I love this topic (it's my favorite!), but Lili is the boss, so whatever she says goes. And I won't go without saying how much I appreciate all the help I've received here!!

But let's get back to basics: that annoying suspense account does NOT close when Class 7 closes!! Actually, that suspense balance carries over into 2013, and my goal is to leave that account in the past—meaning I want it at ZERO—so that's why I have to close it. If I interpreted the advice correctly, it said to move it to extraordinary expenses... Well, there you go, all my big problems are solved.

Just one more thing with depreciation and I'll finally be done with 2012. I have some service revenue coming in, which could be nice (I'm still figuring things out, clearly!!), but the retail side... it's dead silent. It's either in the red or, at best, barely broke even after paying one tiny salary (since I'm doing the bookkeeping for free, of course...). And then there's that extra tax on profits—that's not just quiet, that's a total rip-off. It's like something straight out of the dark ages. They're just bleeding us dry! It kills me—just skinning us alive, skinning, skinning... how long do they think they can keep this up?!?

Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 18, 2013

Alright, just a quick question here: what’s the counterparty for purchase price 710xxx?? Where can I toss a single cent so I can finally close out this account with a zero balance?

Virtual Coffee Break - Chat in Business, Accounting & Taxes · Jan 18, 2013

Kimberly Harris6 said:I hope you don't think I'm picking on you. My comment wasn't even directed at this specific thread—I wasn't following this exact debate, I was just making a general observation about everything else going on.

Don't just sit there staring at the Moon—get involved and help out... Can't you see what I'm dealing with here?? I've got exactly $1 left in my account. That isn't some minor inconvenience, it's literally my last dollar! I'd fix this $3.25 in a heartbeat if I could. But everyone here is acting like they're so much smarter than me, even though the people I know nearby aren't even close.