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candy shop
March 11, 2019

Sales Tax on Quickbooks Desktop for Mac

  • March 11, 2019
  • 1 reply
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I use Quickbooks Desktop for Mac.  My client uses Square as their POS, and those deposits are imported by me from their bank into my QB desktop. This is a candy store, not everything is taxable, and there is no breakdown from Square to their bank detailing how much of that deposit is tax collected.  There are multiple locations, so a there is huge number of deposits per day from Square.  How do I set up paying sales tax in this scenario given that I will not know the total of sale tax that is part of those sales deposits?  I'd appreciate any help!

    1 reply

    L
    LuannMeador
    March 25, 2019

    I assume that your cash register keeps up with sales tax. 

    [1] Run all Square deposits to Gross Sales - use bank rules to make this easy and automatic. 

    [2] Set up items for Taxable Sales, Nontaxable Sales, Sales Tax. 

    [3] Use your daily cash register sales reports to do a sales receipt with the totals and run a negative to an item to "Gross Sales" for the total so that the Sales Receipt has a zero balance. 

    You will want each Sales Receipt to be coded to the location from which the report was drawn so that you can keep up by location - which often affects sales tax rates.  You will also have to recognize that a Square fee is pulled from each transaction and expense it from your Square reports.

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