The Sales Tax Collected report summarizes and itemizes the payments you've received for taxable items. The Summary table groups the tax payments by the general ledger account code assigned to the tax rate and breaks down the totals by rent, retail, and other charges. Other charges may include insurance, fees, services, and miscellaneous items. The Detail table lists the payment date, tenant name, unit number, internal reference ID number assigned by the storEDGE system, the description of the taxable item, the rent service period, amount of the taxable item, the tax paid for that item and the total of the amount and tax.
The tenant name, unit, and service period cells will be blank if no tenant is associated with the sale. This occurs with some retail or miscellaneous sales.
The tax collected will be $0.00 if the buyer is tax-exempt.
The Excel version of the report provides additional details. It includes the tax rate and itemizes which sales tax type was used in the sale.
Reconciling to the General Ledger
For facilities processing sales tax on a cash accounting basis, the total sales tax on the Sales Tax Collected report should match the total sales tax on the General Ledger report. If you see a discrepancy between these totals, compare the detailed line items from the Sales Tax Collected report to the General Ledger Details report to discover why those discrepancies exist.
For facilities processing sales tax on an accrual accounting basis, the total sales tax on the Sales Tax Collected report is not expected to match the total sales tax on the General Ledger report. This is because the Sales Tax Collected report only displays payments of sales tax and the General Ledger includes both paid and unpaid sales tax amounts.