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June 17, 2020
Question

Sale tax box need be modified. I could find the option I need.

  • June 17, 2020
  • 1 reply
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1 reply

June 17, 2020

Hi there,

 

Adjusting sales tax allows you to keep your tax amounts accurate. I'd be happy to steer you in the right direction so you can get back to doing what you love.

 

Before we get started, it's important to note that if one of the amounts needs to be adjusted on your sales tax return, the best way to edit the incorrect amounts is to figure out which transactions may be missing. By doing this, you'll also fix the associated reports.

 

To adjust your sales tax return, follow the steps below:

  1. On the Prepare return page, select the Adjust link on the far right of the line you wish to adjust.
  2. Enter the amount of tax you would like to add to the line (to reduce the line, enter a negative number).
  3. Select your adjustment account. This may be an income account for tax credits, or if your Tax Payable account is correct, you can select the Payable account to adjust the return without affecting your Chart of Accounts. Note: We recommend consulting an accounting professional to ensure correctness on this step.
  4. Select Save to save the adjustment.

Now that you know how to adjust the sales tax, it's vital to know that when you enter a sales tax adjustment, QuickBooks Online automatically adds a general journal entry to show the adjustment. The next time you file your GST/HST, PST, or QST, the adjustment is included in the File Sales Tax window. QuickBooks Online includes the adjustment on the sales tax line that you chose in the Sales Tax Adjustment window.

 

The adjustment is shown as a general journal entry in the related section of the GST/HST or PST Detail report.

 

Give this a try and if you have questions, please contact our support team using this link. Let me know if you have other questions by leaving a comment below. I'll be on standby.