Pay Sales Tax in QuickBooks Enterprise Solutions
Verify the Taxes Due:
- Sales Tax
- Sales Tax Liability
Make sure that the dates of liability are LAST MONTH - note the amounts due to each agency and the amounts due:
Return to Vendors, Sales Tax, then select Pay Sales Tax:
When the window opens, pay one agency at a time…first do the one that exact (typically NV Dept of Taxation – City of East Bayshore in this example). Be sure to set the correct bank account from which to deduct the monies, then set the date of the withdrawal and most importantly, set the tax liability date – should be last month under show sales tax due through date. Finally determine if you want QB to assign a check number or if you prefer to do so at a later time, select “to be printed":
Now return to Vendor, Sales Tax, Pay Tax window to pay the taxes that require rounding:
- Select all taxes (they both go to the same tax agency)
- Select the ADJUST button
- In this example, the payment can be rounded up or down…we will round up to 1637.00
Follow the example above:
- Verify that the adjustment affects the tax period you wish to adjust…Nov 2019 in this
- Make sure the vendor agrees to the agency in your Tax window.
- Select the offset account, such as Other Income or Other Expense depending upon Increase/Decrease
- Increase or decrease the tax payable – in this example increase by 37 cents
- Make a memo if you like…such as rounding to pay even dollar to CABOE
- Select OK to return to the Sales Tax Payment Window
Select OK to continue after adjustment
“to be printed” are still as they should be.
Now Select “Pay All Tax Button”
Go to the check register to verify that your checks have been properly recorded and are
waiting as “To Print” for you to either enter a check date or eft note.
When you make your payments online, change the To Print memo to the actual notation such
as EFT, DD, Online and verify that 2 checks are in the register each to the proper agency
For any more questions or concerns call The QuickBooks Gal!