Category: Sales Tax
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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.
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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” >…
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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…
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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
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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…
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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…
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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…
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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…
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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…
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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.
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How to print sales tax check in new QuickBooks Online?
From the blue navigation bar on the left > select Sales Tax tab > select “Record Tax Payment” blue button > New “Record Sales Tax Payment” screen will open > “Print a check” checkbox is located right below Notes field > select Checkbox > select “Record Payment and Print Check” blue button Now, sales tax…
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Where do I find the amount of sales taxes due in new QuickBooks Online?
From the home page screen Go to blue navigation bar on the left Select Sales Tax tab Sales Tax Center Record Tax Payment button under Sales Tax Owed heading Make sure tax period ending is correct. Also, fill notes filed with resales certificate number. QuickBooks Online: Where do I find the amount of sales taxes…
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I don’t see any data when I run sales tax report. I list non taxable and taxable sales when I deposit sales
In order to get total sales and taxable sales with sales tax collected, you will need to run a “Sales by Customer Detail” report. This stand-alone report will not give you all the information you need to file the Sales Tax Return. You will need to further customize it to work-around. To do this, you…
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How to run Sales Tax Liability report to get Total Sales and Taxable Sales with Tax Collected in new QuickBooks Online?
In order to get total sales and taxable sales with sales tax collected, you will need to run a “Sales by Customer Detail” report. This report will not give you all the information you need to file the Sales Tax Return. You will need to further customize it to word around. To do this, you…
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How do you delete/deactivate a sales tax code in new QuickBooks Online?
You can deactivate Sales Tax agency in the new QuickBooks Online. From the homepage screen Go to the blue navigation bar on the left Select Sales Tax Select Add/edit tax rates and agencies under related tasks Locate Tax agency to deactivate and checkbox Select Deactivate button New warning screen will open Click Continue and Done
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Do you have to separate the sales tax paid to a vendor when recording in QuickBooks Online?
Do you have to separate the sales tax paid to a vendor when recording in QB? I have entered all the checks that were written. I just want to know if I need to go back and separate the sales tax that were paid to the vendors. If so, what would be the account to…
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We do not charge Sales Tax on any our services. The “Sales Tax” feature was turned on by mistake. Now, how to remove this feature completely from the Invoice screen so that we don’t have to keep changing it?
Once “Sales Tax” feature is turned on, it cannot be turned off. You will always see the Sales Tax column when creating a transaction (Invoice or Sales Receipt). To add new feature request to turn-off Sales tax, send feedback to Intuit here: http://feedback.qbo.intuit.com/
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How do I print Sales Tax payment voucher for backup record in new QuickBooks Online?
They do not have a standard Sales Tax payment voucher to print at this time. Best you can do is to print Sales Tax Payment statement. From the home page screen Select “Search” (magnifying glass, upper-middle next to plus sign) Select Advanced Search Select “Sales Tax Payments” as search setting from drop-down selector Select “Account”…
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How to process and print sales tax liability check?
To process sales tax liability: From blue navigation bar (on the left) Select Sales Tax (or Taxes) From Sales Tax Center > Review “Sales Tax Owed” Select “Record Tax Payment” button (or “View Report” button) Select “Bank Account” Select “Print a Check” box if paying by check (or enter notes if paying online) Select “Record…