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kaydeeto
May 18, 2021
Question

Edit sales tax on multiple invoices

  • May 18, 2021
  • 1 reply
  • 0 views

I need help with editing the sales tax on invoices that are added by Square. For whatever reason (bad design), Square cannot track sales tax because it is synced with a booking system. When Square adds the invoices to QB there is no sales tax. I have been manually editing each invoice to include sales tax - it hasn't been an issue with low sales during the pandemic. It would be very tedious when sales pick up.

 

Is there a 3rd party app that can edit multiple invoices to add the tax? I would need to use it regularly. 

1 reply

T
Tammy_H
May 18, 2021

Hi kaydeeto,

 

Welcome to the QuickBooks Community. It's wonderful to see new members joining the conversation. QuickBooks Online works well with many applications. Some apps need a little help. I have a solution that can help you.

 

You can create a rule in your bank feeds that Square transactions are entered into the sales account with the default tax code of GST, for example. To do this, you change your settings to inclusive of the sales tax and add a default sales tax on your sales account. I'll walk you through each of the steps to set this up. 

 

To have your transactions capture the sales tax, follow these easy steps:

  1. Go to the Gear Icon.
  2. Select Account and Settings/Company settings.
  3. Choose the Advanced tab.
  4. Click the pencil icon in the Accounting section. 
  5. From the dropdown menu beside default tax selection, choose inclusive of tax, and click Save.
  6. Click Done.
  7. Go to Accounting from the left navigation menu.
  8. Select Chart of Accounts.
  9. Scroll through and find the sales account you want to use for these transactions, and click on Edit from the right dropdown menu.
  10. Choose the sales tax code you want to use from the dropdown from the default tax code options, and click Save and Close.
  11. Go to Banking/Transactions from the left navigation menu.
  12. Select the Rules tab.
  13. Click the New Rule button.
  14. Fill in all the rule information. Decide whether you want the Auto-add toggle on or off. 
  15. Click Save.

As your transaction download, QuickBooks knows what account it needs to record the entry in and what tax code is associated with the transaction.

 

I'm here if you need a helping hand. Have a fantastic evening!

K
kaydeetoAuthor
May 19, 2021

Hi there,

 

Thanks for that - but it won't help.

I don't know if you're familiar with how Square syncs transactions but it already applies it's own rules (which I cannot access because it's part of the integration and not a QB setting). Basically, Square has to split each deposit as income and credit card fees. If I make a rule to add taxes to the deposits, I think it would make a problem for splitting - yes, I can include a rule to split but as the fees vary I don't think I can set that up correctly. 

Unless you're familiar with how this particular integration works, I'm not sure your advice is applicable here. 

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