Hi all,
To my knowledge, all Trustee Taxes (hotel tax, room tax, sales tax, etc.) are all to be reported and paid based on cash-based accounting reports (i.e., one only pays trustee taxes that have actually been collected). Are there any jurisdictions which require otherwise?
I ask this because I am discussing what I believe to be issues with the reporting in one of the systems that I am using--and I want to make a case to the developers to make a change on a global level in their system--since I cannot imagine that anyone is required to pay taxes on either uncollected revenue (i.e., Accounts Receivable) or on No-Show reservations (regardless of whether a cancellation penalty has been collected or not).
Thanks!
To my knowledge, all Trustee Taxes (hotel tax, room tax, sales tax, etc.) are all to be reported and paid based on cash-based accounting reports (i.e., one only pays trustee taxes that have actually been collected). Are there any jurisdictions which require otherwise?
I ask this because I am discussing what I believe to be issues with the reporting in one of the systems that I am using--and I want to make a case to the developers to make a change on a global level in their system--since I cannot imagine that anyone is required to pay taxes on either uncollected revenue (i.e., Accounts Receivable) or on No-Show reservations (regardless of whether a cancellation penalty has been collected or not).
Thanks!