How Do You Do Small Business Accounting Sales Taxes?
• Spreadsheet Formulas and Spreadsheet Design – Before any data is entered into the spreadsheet specifically made for the month being measured (use different tabs for different months), the spreadsheet should be designed around the informational requirements set forth in the remittance forms. Line descriptions should precede the target cell that will produce the respective number. Target cells should contain the formula that will cell-reference from whatever cell is needed to perform the computation. • Revenue Data – In states such as Arizona, where it matters whether the client is a retail business or a contractor, with the firm that services a contractor client, every single transaction that resulted in revenue for the client, whether taxable or nontaxable, must first be entered line by line on a spreadsheet. For businesses in states where such a distinction is not made and for retail businesses in states like Arizona, the sum total of all revenue, both taxable and nontaxable should
