Skip to main content
Jan 27, 2022 7:33 PM UTC
Question

Small car dealership. How do you input invoice for a trade in for taxes? No taxes for private sale but need to say there is to ensure correct tax savings for customer?

Currently state PST/GST on the negative amount for trade-in. This is not true and likely skews how I submit PST/GST. How do you create the invoice?

1 reply

Jan 27, 2022 8:22 PM UTC

Hi veronica28,

 

Welcome to Community.  QuickBooks Online is a versatile program for all of your accounting needs.  It's essential that your transactions are entered accurately.  I'll be happy to point you in the right direction here!

 

When it comes to creating invoices for your customers, ensuring the correct sales tax is entered is vital in keeping with government guidelines.  For this reason, I recommend reaching out to your accountant for further guidance and the best course of action for this type of entry.  If you don't have an accountant, we can help you locate a ProAdvisor in your area.

 

If you have any other questions, don't hesitate to reach back out.  We'd be glad to assist!