needs help with

[killerpeach]

I'm entering expenses in the purchases/Recieve Inventory, but not sure if the taxes should be entered as a line item (for example, I brought a padlock from ACE Hardware, $10 for lock and $0.80 for tax). My question is, should the tax be entered as a line item under purchases? Or is there a way that PT can figure out the tax? Thanx

[dringstrom]

Typically, sales tax is just coded to the same account as the purchase. Peachtree can calculate sales tax for sales transactions, but not purchase transactions. Regarding tax on purchases, it's really part of the cost of the product. You wouldn't have incurred the sales tax unless you'd purchased the product, so I see both as two components of the same total cost.