Skip to main content
M
Myrna3
March 14, 2022
Question

Sales Tax

  • March 14, 2022
  • 1 reply
  • 0 views
I have a number of clients that are Non Profit and Charity. They can only claim an ITC for 50% of their sales tax. Should I be halving the tax they pay out when I do their books? I have not found any way to handle this problem in Quickbooks and needless to say, the sales tax account is always out of balance due to this problem. Thank you for any assistance you can give me.

1 reply

J
JamesM4
March 15, 2022

Hello Myrna3,

 

Thanks for contacting us here. QuickBooks Online is a hassle-free program that simplifies the way you manage your accounting. I'll be glad to point you in the right direction so you can achieve your QuickBooks goals. Recording your transactions the right way is a good exercise for keeping your books accurate.

 

To ensure accuracy in your books, I recommend contacting an accounting professional to get expert advice. Doing this will help prevent any future discrepancies in your books. You can also reach out to accounting professionals on our site using this link here.

 

I'll also leave this question here so other accounting professional members can chime in and share their expert advice. Let me know if you have other questions, I'm here to assist.

Terms & ConditionsAccessibility statement