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Business & farm
Sales tax collected is not revenue. Both answers are not correct. Sales tax collected is a liability.. That is accounting and bookkeeping 101. Similar to when a POS system includes Tips, you do not add the Tips to income. It is not even debatable. If you want to do it right, enter the sales amount and not sales plus sales tax.
‎April 5, 2022
4:57 PM
14,436 Views