Tax credit claims: capturing expense by geographic area

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Posts: 2
Joined: 06 Feb 2014 13:00
Product: Gold
Region: Canada

Tax credit claims: capturing expense by geographic area

Post by HeatherYoung » 06 Feb 2014 14:00

My client is eligible for certain government tax credits. They need to track expenses by project in order to claim these credits. Further, they need to be able to identify purchases either made within the province of Ontario OR made from an Ontario company.

For instance, they're located in a border city and they use both Canada Post and the US Postal Service for shipping. That's an easy distinction because the country is part of the vendor name. However, they also ship from UPS outlets on both sides of the border (same name different country), and occasionally they'll use US suppliers for a variety of purchases if they can get a better deal. When they're out on sales trips, they may use national suppliers that operate across the continent. So, for instance, their purchase of gas from Shell or accommodation at the Holiday Inn would qualify as long as the outlets are in Ontario --- but purchases from Shell or Holiday Inn in other provinces or the US need to be identified and excluded from the tax credit claims.

I'm sure there's a good option in MoneyWorks. I'm looking at accounts and departments; also at tricks like putting a space character or a period in front of out-of-province vendor names so that those purchases can be quickly identified by exporting to Excel and sorting.

Any advice or suggestions on the best way to simplify this? Thanks.

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