How to record sales tax in quickbooks

For quickbooks online taxes the total calculation of the tax is saved in quickbook. The records of sales tax is used when the final transaction or invoice is generated.
To generate the sales tax their is a option in menu bar of quickbooks and then record tax payment where the tax codes and all the valuable details about the product tax and transactions would be mentioned.
The invoices are used to download the taxes where the detailed version of the bill and the online taxes would be mentioned. This helps the quickbooks to get the expense made during the order and helps in Quickbooks sales tax payable.

To View liability report of Sales Tax:

  • Go to left menu, click on Taxes.
  • Now, click on blue report.
  • The report will show all the agencies, sales taxable amount and the tax you owe.

To Record the Tax payment

  • Go to the left menu, click on Taxes.
  • Click on the tax agency and the payment will be recorded in the list that owe sales tax.
  • From the bottom of the payment, click on the record tax payment.
  • Enter complete and specific information. It includes:
    • The bank account that you use for payment.
    • The payment time and date.
    • Tax period end date.
    • The tax amount you are paying.
    • If you want to make adjustments in the amount, click on Make Adjustment, enter respective information about adjustments.
  • Notes about the payment you are making.
  • If you don’t need to print sales tax check, click on Record Tax Payment.
  • To click the payment check, click on “Print a Check” and then select Record Payment and Print Check. This will send the check to Print Checks queue then, select the check and print it.

Delete a tax payment:

  • Go to the left menu and click on the Tax payment.
  • Now, go to the Recent Sales Tax Payments, select the question and highlight in the payment.
  • Now, click on Delete Payment.
  • Once confirmation screen opens, click yes on it.

Edit a tax payment amount:

You are not allowed to edit a tax payment in QuickBooks; rather. Now, instead of editing, all you can do is delete the payment and make a fresh record of payment.  The steps are follow like this: first delete the payment and then make a fresh record of payment.

View a report of all your sales tax payments:

  • Go to left menu, click on next.
  • Click on Recent Sales Tax Payments and then click on View All.
  • Then, this will take you to the transaction report that will show all the tax payment list. The data range option can be adjusted and selected report can be customized to narrow down the report further.

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