Tracks your taxable sales on several reports, so that you can track your taxable sales and tax liability. Click reports and enter taxable sales in the reports search field. Now into the range of dates, you’d like to see taxable sales for this report show you your taxable sales divided by product. So if you ever want to know what products you’ve sold and collected taxes for this is the report for you. On the other hand with QuickBooks also more information on how to print w2 in QuickBooks.
Tracks your taxable sales on several reports, so that you can track your taxable sales and tax liability. Click reports and enter taxable sales in the reports search field. Now into the range of dates, you’d like to see taxable sales for this report show you your taxable sales divided by product. So if you ever want to know what products you’ve sold and collected taxes for this is the report for you
You can even click a number. To see the individual sales that make up the total. But this report doesn’t show you how much you owe in taxes. It only shows you your taxable sales over a period of time, to see how much you owe, you’ll need to run the sales tax liability report. This company is about to file its January sales tax. So the report should only use data from that month, the sales tax liability report shows your business’s taxable sales broken down by tax agency and rate. And more importantly, how much you owe each tax agency, and for what tax rates. This information can be very important when filing your sales tax. So now that we know How much we owe, and why. Let’s file our taxes QuickBooks lists your currently do sales tax at the top. And the sales tax that is accruing at the bottom. Let’s take a look at the return for our sales QuickBooks shows your total sales here, including both taxable and nontaxable sales, and just your taxable sales here QuickBooks tells you what you owe here, but sometimes this number is different from the amount you actually pay, maybe there were some late fees that QuickBooks doesn’t know about, or perhaps your state gives you a rebate if you pay early. In any event, click Add an adjustment. If you need to adjust the amount do tell QuickBooks, why you’re paying more or less here.
We get to keep some of the taxes we’ve collected because we’re paying early, so choose. Choose an expense account, like penalties and fees. If you need to increase the amount owed, we’re decreasing the amount we owe though, so choose an income account, like miscellaneous income. Finally, click Add QuickBooks gives you some directions on how to file your taxes here. In some cases, you can file and pay your taxes directly through QuickBooks. But in our case, we’ll need to submit payment to the tax agency, outside of QuickBooks. Click the Select filing method. Once you’re ready to file your taxes, we’re not able to E file our return through QuickBooks.
So we need to do it manually outside of workbooks. Here are some more directions to help you out, including a link to your tax liability report, and a link to the tax agency’s website. Once you’ve gone through all the steps and paid and filed your taxes through your State’s website. Enter your payment information at the bottom of the screen. QuickBooks assumes that you’re paying the full amount due but you can always change that here into the date you paid the tax, and then choose the bank account, you use to pay the tax. Finally, click Record payment. Everything’s done. Click history if you ever need to see a record of your sales tax returns QuickBooks lists all of your returns here, use QuickBooks to calculate, and payor record sales tax you collect.