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tobias-marzell-j
October 25, 2021
Question

Is it possible to add a fixed tax amount instead of a fixed tax rate?

  • October 25, 2021
  • 1 reply
  • 0 views
I often purchase goods from the US and am only charged tax (GST) when the goods are imported into Canada meaning I pay a fixed amount of taxes instead of a percentage. Is there a way I can add that full amount as taxes? For example my tax bill is 500$, how can I set up Quickbooks to calculate the 500$ as all taxes and not 5% of 500 as it is calculating it now. Would a 100% tax rate work or is there a simple way to add a fixed amount?

1 reply

J
JamesM4
October 26, 2021

Hello tobias-marzell-j,

 

Welcome to the Community. Your taxes are an essential part to your business. I'll be happy to steer you in the right direction so you're able to accomplish your goals in less time. 

 

Since the function to add a fixed rate isn't available in QuickBooks, you'll have to manually calculate your tax amounts so they appear the way you'd like for them to appear. I also recommend consulting with an accounting professional to make sure you're recording the transaction the right way.  If you're not in contact with a professional, don't worry, you can search for one using this link here.

 

For additional info about the sales tax set up in  QuickBooks, check out this article here that provides more info. Feel free to ask other questions, I'm here to help you achieve your QuickBooks goals. 

 

 

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