Financing, tax rates, and accounting
Help! I just realised that one of my stores hasn't been collecting sales tax since inception a year ago. How do I calculate a sales tax report? What do I give my accountant? I'm freaking out! Lucky for me this particular store hasn't had many sales this year, but I still do not know how to calculate it.
I understand your sense of urgency, but please don't panic! You certainly could compile some reports on your sales to provide to your accountant that may help. Here is an overview of how your tax reports work, and some information on your sales finance reports.
While we cannot provide you with accounting and tax advice, I believe you should be able to pull reports that your accountant may find useful! It's probably best to talk to them about it, to see if they can ask for other data that may help them. Moving forward you need to ensure that you are charging all the right taxes on your orders.
I hope this helps!
Andrew | Social Care @ Shopify
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