Do not add Tax to either Agency Due or Owner Due.
Tax Collected is not part of Agency Due nor Owner Due. It should be left separate in its column and not added to the Total. The reason is that it makes Agency Due look like more than the % in my Owner Contracts, and they do not have an accurate number when creating a 1099NEC form for my company. When added to Owner Due, I have to Adjust it out so I am not Paying Out Tax to the owner as Rent Income.
I have to create a spreadsheet that takes that Tax Amount out of either Agency or Owner because it is not part of Gross Rent Income reported to Federal IRS income.
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AdminTed Nguyen (Admin, Hostfully) commented
Thanks for your feedback, Orcas Home Management team.
Each Agency will have its own reporting model and that's why we add flexibility to our Enhanced Reporting. You can utilize this feature to customize your own reports. Just click the "Due Agency/Due Owner" columns and edit their formulas (remove the collected Tax).
For further information, you can refer to our Help article: https://help.hostfully.com/en/articles/5658316-enhanced-reporting-overview