Common mistakes to avoid when setting up sales tax in QBO

Currently, Automated Sales Tax is for accrual-based accounting. In Manual Sales Tax feature, you can toggle between cash and accrual method.

How To Delete Manually Recorded Sales Tax Payment In QuickBooks Online Sales Tax Center

Currently, in QBO they’ve two sales tax features: 1) New recently rolled out Automated Sales Tax and 2) Old regular Sales Tax If you have New Automated Sales Tax, here is how to delete manually recorded payment in QBO: Left Dashboard > Taxes > History > Select payment in question and click “View Return” > […]

QuickBooks Online Sales Tax – “In The Know” Questions and Answers

In The Know (Feb 27th ITK FAQ) LINK Q: Is the sales tax what came with Exactor acquisition? A: Yes, the new automated sales tax experience in QBO is powered by the Exactor data base. Q: can you have more than one taxing agency? A: Yes, you can add as many agencies as you need […]

How to Manage SALES TAX – set up, collect, report and pay sales tax in QuickBooks Online

QuickBooks Online – How to Manage SALES TAX – set up, collect, report and pay sales tax From the Dashboard > Taxes Set up products and services and make it taxable > Gear > Lists > Products and Services > New > select ‘Is taxable” box. Also, see reference article: Sales tax in QuickBooks Online

How to record sales tax refund check from Tax Agency in QuickBooks Online

I’ve not seen a single article from QuickBooks Help related to this subject on how to record Sales Tax refund check in QuickBooks Online. Most of the answers found don’t work or whoever answered the questions does not fully understand how Sales Tax Center is so limited to making any credit/refund adjustments. It’s not clear […]

Sales Tax on Shipping Costs

What Small Businesses Need to Know About Sales Tax and Shipping QuickBooks blog From the article: For small businesses selling goods online to remote customers, shipping is an integral part of doing business. And, some states tax shipping costs just like they tax the purchase price for a product sold. But, then again … some […]

Does QBO automatically pull deposits pre-payment on taxable items into Sales Tax Payable

The answer is no. Deposit field on Invoice is below the total field. It does not compute sales tax on deposit (acts more like pre-payment) field in QBO. If you run the Sales Tax Liability report from the Sales Tax Center (View sales tax liability report under Related Tasks at the far right side). Just […]

How do I edit rename a sales tax agency in QBO

To edit and rename the Agency paid for Sales Tax in Sales Tax Center: 1. Click on Sales Tax (or under taxes) at left navigation bar. 2. Right below the Agency name is a blue link to rename. (Screenshot 1 below). 3. Then enter the Agency name so when you write a Sales Tax Payment […]

Do we charge sales tax on a discount amount

It really depends on state regulations and also discount type. You would need to contact your local sales tax agency for this answer. FOR EXAMPLE Any in-store discount may reduce sales tax. However, any manufacturer coupon still has to have sales tax paid on it.   Sign up QuickBooks subscription for new company. Or add […]

I have an invoice that will have two items and each item has a different sales tax rate. How do I accomplish this?

Create two separate invoices. Not a good option, but it’s what it is. As you may have already noticed, there is no way to create different sales tax rate setting by items in new QuickBooks.