General Ledger - Receivables, Payables and Taxes
  • Aging: what customers owe and what you owe vendors, by how late it is (current, 1-30, 31-60, 61-90, over 90 days), tied to the ledger's receivable and payable accounts.
  • Sales tax: tax collected, paid and owed by period and location, from the ledger.
  • Tax lines: map each account to a line of the business tax return, then see the year's income and deductions by line. Net income ties to the income statement.
  • 280E worksheet (cannabis businesses; turn it on in Settings): what is cost of goods, what is deductible and what is not, by each expense account's 280E treatment.