QuickBooks Sales Tax Support

QuickBooks Sales Tax Support Number

Sales Tax item in QuickBooks is tagged under expense account as this item is considered to be an expense for the company. Once the user has generated the expense account to record sales tax they can keep track of the same as the payment category. The Expense account is a part of the Chart of Accounts.

It is a general rule that tax expenses can never be automatically tracked and the user has to track Sales Tax manually following every recorded transaction. Once the Expense account is created user also has the advantage of overseeing periodic summary of expenses along with having a general idea about the payments made for Sales Tax. To avoid any untoward mistake in this area, the user can connect with proficient QuickBooks experts and garner invaluable advice.

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How to create an Expense account

  • Open the software and navigate to list tab.
  • Click on the option of the Chart of Accounts.
  • Select the Account option and then on New tab
  • Locate and click on Expense Account option followed by ‘Continue’ tab
  • In order to easily track the expense account, provide a specific name for it for eg – Tax Expense Account.
  • From the list of the drop-down menu of Tax line, click on the required tax line for the company.
  • Select the tab labeled OK in order to Save as well as Close the window.

How to track Sales Expense

  • Generate a transaction and then select the option of the Expenses tab.
  • Next click on the Tax Expense Account created in the above steps listed in order to keep a check on the tax payments.
  • Under the head of Amount column type in the required amount of Sales Tax.
  • Next click on Recalculate tab to verify total displayed is accurate or not.
  • Now all you have to do is click on Tax expense Account to see and check the taxes paid by you.

If the user is managing the sales tax of the company then they have the assurance of never missing out any remittance period. QuickBooks features to generate sales tax reports and also reap in the benefit of this. The QuickBooks Sales Tax Liability screen allows the user to customize the period for which they want to create the same report. It helps in swift comply of remittance schedules generated for local tax by the business. When the user builds an authentic and accurate sales tax report, they can either verify the report on their screen or use the print function to print it for the records.

Record, Delete & Edit a Sales Tax Payment

If the user manages the process of collecting the Sales tax from their customers then it is recommended to make sure sales tax amount forwarded to tax agencies on a regular period is maintained properly. For this they need to follow the points listed below:

  • Under the Sales Tax Center, the user can view a report regarding the liability of sales tax owed by them and also keep a record of all the payments made.
  • Sales Tax Center is the main platform under QuickBooks for Sales tax as well as its payments considering all the data is displayed under one platform.
  • User can keep an eye on the sales tax owed by them on monthly, quarterly and annually. Moreover, adjustments can be made for the same as and when required in both cash and accrual basis.

How to View the Sales Tax Liability Report

  • From the main menu bar select Sales Tax tab.
  • Under the option called Related Tasks, select “View sales tax liability report”.
  • The report basically showcases agency and tax owed by the user along with the taxable amount of sales.

The accounting software – QuickBooks, eases the process of assembling and recording sales tax transactions and items whenever required by the user. It is advised for the user to verify with their local authorities for Sales Tax Revenue that whether the tax on sales has to be levied before or after the calculation for the discount.

Contact Accountsportal.co

If you have any query related to QuickBooks Desktop version contact Accountsportal.co. It has been able to provide top-notch support to many esteemed clients of theirs for QuickBooks Sales Tax ensuring complete satisfaction is accorded. Our in-house QB experts, with the help of their experience, will suggest the right guidance that can be your route to business success. QuickBooks Technical Support team can be visited to get in touch with certified experts or contact us at Toll-Free Number – ☎+1-800-796-0471 website – Accountsportal.co.