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How do I account for sales and taxes from a third party. Ie…

Customer Question
How do I account...

How do I account for sales and taxes from a third party.

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

Ie skip the dishes they are a service app that takes orders and payment for my sales and I pay a service charge from the sales they submit the taxes. How do I account for the sales and fees and taxes already collected

Accountant's Assistant: Is there anything else important you think the Accountant should know?

I'm a sole proprietor for a take out food business

Submitted: 4 months ago.Category: Finance
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Answered in 14 minutes by:
3/7/2018
Financial Professional: ABC Accounting Group, Financial Advisor replied 4 months ago
ABC Accounting Group
ABC Accounting Group, Financial Advisor
Category: Finance
Satisfied Customers: 889
Experience: Accounting Manager
Verified

Hi. Great Question. Are you asking about recording these charges on your ledger? Thank you.

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Customer reply replied 4 months ago
more over how do I let the government know that taxes were collect on my sales from them so it doesn't go towards the collecting of taxes through in store purchases
Customer reply replied 4 months ago
This is what I get from them
Financial Professional: ABC Accounting Group, Financial Advisor replied 4 months ago

Yes, on the sales tax.

Sales goes into revenue.

The service charge you can take as a cost of sales, to get to your net sales, before expense.

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Customer reply replied 4 months ago
Sorry I'm not explaining my self properly. The problem is the tax (hst) number is ***** mine so how do you account for that tax on the sales I have thought the app. If the sales go to general revenue i will need to submint the taxes for that revenue. See attachment.
Financial Professional: ABC Accounting Group, Financial Advisor replied 4 months ago

I would credit a payable for it - since it is not actually "revenue" to you.

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