Client Summary Page Should Count Tax Collected as an Expense, Not Income
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Scott Stolz shared this idea 10 months ago
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On the Client Summary page, it shows a nice summary of gross revenue and net income, but its calculation is incorrect.
If you collect sales tax or VAT, you don't get to keep that money. You have to give that money to the government.
Current Interface:
Gross Revenue $483.87 USD
Client Expenses $9.96 USD
Net Income $473.91 USD
Credit Balance $0.00 USD
A more accurate interface:
Gross Revenue $483.87 USD
Client Expenses $9.96 USD
Taxes Collected $26.91 USD
Net Income $447.00 USD
Credit Balance $0.00 USD
Otherwise it inaccurately says we made more money than we really did. You might think you are making a profit on a customer, but after taxes, you are actually losing money.
It would be nice if you calculated the net income after taxes.
If you collect sales tax or VAT, you don't get to keep that money. You have to give that money to the government.
Current Interface:
Gross Revenue $483.87 USD
Client Expenses $9.96 USD
Net Income $473.91 USD
Credit Balance $0.00 USD
A more accurate interface:
Gross Revenue $483.87 USD
Client Expenses $9.96 USD
Taxes Collected $26.91 USD
Net Income $447.00 USD
Credit Balance $0.00 USD
Otherwise it inaccurately says we made more money than we really did. You might think you are making a profit on a customer, but after taxes, you are actually losing money.
It would be nice if you calculated the net income after taxes.
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