Shop Option

[sixstarautomotive]

I would like the option in the Options Menu to have "Shop" as an option, like discount or warranty so I can properly track and document my shop vehicle work and not have to zero it all out or discount it.

[timbre4]

I would like the option in the Options Menu to have "Shop" as an option, like discount or warranty so I can properly track and document my shop vehicle work and not have to zero it all out or discount it.

Something to consider: A number of shops add their shop vehicles as customer/vehicle records and "pay" for the work with an internal account. This way, the value of the expenditures remain intact instead of having to be discounted or zeroed out.

[Daniel Kreider]

I suppose another benefit of using an internal account to pay for the shop expenses would be that the shop vehicles could be assigned a use tax category that would be remitted separately from sales tax and would be a tidy way of tracking use taxes ....

[timbre4]

I suppose another benefit of using an internal account to pay for the shop expenses would be that the shop vehicles could be assigned a use tax category that would be remitted separately from sales tax and would be a tidy way of tracking use taxes ....

Depending on local regulations, I'd think the internal shop work would not be taxable.

[Daniel Kreider]

I suppose another benefit of using an internal account to pay for the shop expenses would be that the shop vehicles could be assigned a use tax category that would be remitted separately from sales tax and would be a tidy way of tracking use taxes ....

Depending on local regulations, I'd think the internal shop work would not be taxable.

Quite true timbre4, I just about added that as a reminder to check local regulations. Thanks for the reminder.

[sixstarautomotive]

I appreciate the feedback, I am not sure I understand what you mean by an internal account. I have only been the owner for a year and am still learning the tax side of things.

[timbre4]

I appreciate the feedback, I am not sure I understand what you mean by an internal account. I have only been the owner for a year and am still learning the tax side of things.

Internal account is funded (at least accounted for) by the shop itself as opposed to standard customer payment types.
It is understood that any report work billed to the internal account will be SUBTRACTED from daily cash receipts.

NOTE: Please confer with your accountant about this before making any changes to ensure you end up where you all agree where you should be on this matter.

1. Internal Account setup
2. Payment Type selector (to apply it)

Internal Income Account.png (110.27 KiB) Viewed 16700 times

Internal Payment Type.png (106.62 KiB) Viewed 16700 times