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June 21, 2022
Question

Ho should I record RCT deduction from subcontratcor?

  • June 21, 2022
  • 1 reply
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I need to record RCT deduction from Subcontractor bill. How should I do that?

1 reply

June 21, 2022

Hi there, julia.distaff@gm. 

 

I'd be glad to show you how to record RCT deductions from a subcontractor in QuickBooks Online.

 

You'll need to set up your sales tax rate and settings in QuickBooks Online, 

 

Here's how:

 

  1. Go to Taxes, then select Sales tax.
  2. Under the Related Tasks list on the right, select Add/edit tax rates and agencies.
  3. Select New and choose either a single or a combined tax rate.
  4. Enter a name for the tax, the agency you pay, and the percentage for the rate. Use a single rate if you pay just one rate to a single agency.
  5. Select Save.

 

Then, record paying a subcontractor by creating the bill. Here's how: 

 

  1. Go to the + New button to create a bill.
  2. Select your subcontractor.
  3. Enter the full (gross) amounts for each item. 
  4. Click on Save and close once done. 

 

To learn more about sales taxes, the most commonly-used GST/VAT rates, and how you can add the additional tax rates, please check out these articles:

 

 

You're always welcome to post here if you have any additional questions. Take care!