invoiceit! invoice and inventory software for the small business

invoice it! - invoicing and inventory software - since 1999
the most feature rich small business software for its price
Home Download Order Tour FAQ Profile Feedback Users Bulletin Board Site Map Links Diversion
 invoiceit! in Quebec

Below is a detailed explanation on how Canadian Taxes are handled in invoiceit!:
 return to FAQ page

This page applies to users in Québec or on Prince Edward Island only. If you are in another province, click here for different examples, as taxes are calculated differently there. We have used an example of a company from Québec, selling a couple of products to three clients, one from the same province, one from an HST-participating province and one from another province. 

1.) Settings on setup page 1:

Select your home province and check the names and rates of applicable sale taxes that are set by invoice it!. Click on the QC/PE square to ensure TVQ/PST is calculated on TPS/GST-inclusive prices.

 

2) Clients

When you enter new clients, check the tax that is applicable to each client. The three examples show how tax is set for clients from HST participating and non-participating provinces. These are set automatically once you enter the client's home province and should be checked for accuracy.

Example 1: client and vendor both in Québec (GST and PST)

Example 2: client in Quebec and vendor in participating province (HST only)

Example 3: client in Quebec and vendor in British Colombia, (a non-participating province applying GST only)

 

3) Products (Stock) and Services

Set the tax rates that apply to each product or service, if different from the rate shown. If the tax does not apply enter 0%. The example at left shows one product subject to all Taxes 

 

and this one subject to GST/HST only.


The examples are ficticious and may be different in reality.

 

Invoicing

Having entered the tax parameters for your clients and products/services, the taxes are now applied automatically. Note the different tax values for three invoices of identical items to our three clients in different provinces. 

You can easily check and edit taxes for this invoice. Click on the Tax Edit button on the left button bar   The Tax edit form appears. Below it is shown after each of the three invoices:

To apply a tax to all products/services charged, click Apply. Click the Undo button to remove that tax from all products/services charged.
To edit any of the taxes, click the Edit button. In the following example we look at the PST charged on invoice #2115

 

here you can change the individual rates line-by-line. You cannot change the tax amount, only the rate, which then calculates the amount. This will avoid calculation errors. Enter 0 if a tax does not apply to a certain item. This should not be necessary in most cases since the tax rates are picked up from your client/product/services settings mentioned above.

 

And this is how it looks on the printed invoice. Columns shown can be removed, resized, repositioned or renamed on Setup page 3

 

Calculation of Tax:

Subtotal        

$234.00

+TPS/GST 7.5% on $234.00

$17.55

TPS/GST Total

$251.55

+TVQ/PST 7.5% on $251.55

$18.86

Total

$270.41

Receipts

When you post receipts (enter payments received from clients) these amounts are automatically posted to the cashbook and taxes contained in those payments are posted to their respective ledgers. The entries you see at left were all created with one double-click.

 

 

Tax Reports

You can print a report on all Taxes received or paid by selected date range, so you know how much tax to pay to the authorities. Click on Cashbook menu, Reports button at left then select 'Tax Reports'. Chose from detailed or summary report, set a date range and click the Print button at top. An additional report opens to show HST collected by participating Province.

To return to the FAQ page, click here

 

[HOME]  [Download]  [Features]  [FAQ]  [Order Now]  [Contact us]

Integrated Invoicing, Billing & Accounting Software  - FREE Trial - low price -
  <download now>

 Copyright ©1999-2008
Contact:
The Scrambled Card Company  
Auckland, New Zealand