Tax Summary Report (QuickBooks Self-Employed)

Hello!

I know how important it is to make sure you have a solid understanding of the reports in your books. I'll do what I can to help you get a better sense of how the Tax summary report works.

As outlined in the description of the report when viewing it in a browser, the tax summary report "shows your spending by category, your income after expenses (net income), and sales tax you collected and paid." So you're right in your thoughts of how it would work. If you're not seeing the numbers you're expecting, here's one other thing to keep in mind.

In QuickBooks Self-Employed, the reports work on cash-based accounting. This means that only closed transactions will reflect in the report. If you have open invoices without payments, those transactions aren't going to affect the numbers in your reporting until you receive a payment.

If the numbers still aren't right, I encourage you to get in touch with the QuickBooks Self-Employed team for further assistance. Here's how you can reach them: Contact QuickBooks Self-Employed Support

For your reference, take a look at the QuickBooks Self-Employed Sales Tax overview article to learn more about sales tax in the program.

All the best to you!