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Fanos_Katsaris
August 24, 2021
Question

How can I change the payable service tax on expenses (current liabilities)? I merged the tax accounts and now I can't find the option to change it. Is it invisible?

  • August 24, 2021
  • 1 reply
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I have merged a couple of payable service tax accounts by mistake. Now my expenses are all filed under one payable tax account on the general ledger

1 reply

S
ShiellaGraceA
August 24, 2021

Thanks for visiting us here today, @Fanos_Katsaris.

 

I have some information about finding the merge service tax account. When you merge an account, you're unable to view the other account you've merged. That said, you'll have to manually look for the default account used for your payable service expenses.

 

To look for the accounts:

 

  1. Go to Accounting.
  2. Select Chart of Accounts.
  3. Search the account name from the Filter by name or number field. You can also tick the Next or Previous links at the bottom of your Chart of Accounts.

 

 

 

 

 

That'll do it. For details about the chart of accounts, check out this article: Learn about the chart of accounts in QuickBooks.

 

I'm also attaching this link here in case you need help with other tasks in QuickBooks Online: Help Articles for QuickBooks Online International.

 

Please know if you still have questions or concerns with accounts. I'll be here for you. Take care and have a great week ahead.

F
Fanos_KatsarisAuthor
August 25, 2021

Hello,

 

Than you for the response.

Unfortunately this didn't help.... let me try and rephrase my question under a chronological sequence, I think it will make more sense that way.

 

WHAT HAPPENED

1.I have tried to create taxes for the first time. Long story short, I made a bit of a mess, creating unnecessary tax agencies and rates. Then I proceeded to add the tax onto my expenses and sales, however the naming has all wrong, so I repeated the process a couple of time until I got it correctly.

2. Finally, I sorted things out and I have created the only 5 tax rates under 2 tax agencies I needed (3 rates on one agency; 2 on the other)

3. So then I have gone back to all of my expenses and added the correct tax, as well as make inactive all the other wrong and unused tax rates. So far, so good.

4. When I run the General Ledger report, I have noticed that Quickbooks has automatically created  accounts under "Current liabilities - Sales and service tax payable" using the old tax account agency names and placed the VAT of my expenses there. It also created a "Current liabilities - Tax suspense" account.

5. In my panic I have merged all the "Sales and service tax payable" and "Tax suspense" together, so now all my expense VAT liabilities show under only one Current Liability account when I run the General Ledger report.

 

THE PROBLEMS / QUESTIONS

6. In the expenses I see no option to choose how to separate the "Sales and service tax payable", although I have created new accounts in chart of accounts; it's like the option doesn't even exist. I only see "Meals and Entertainment" on the expense for example, but not the current liability account. How to separate the liabilities on my expenses please? Is there a hidden option?

7. Also, Quickbooks does not let me create a "Tax Suspense" account anymore for the new corresponding "Sales and service tax payable" accounts I created ; How do I bring this back, please?

8. Lastly, how can I teach Quickbooks to understand that - when I input a specific tax rate, I want the expense to go to a specific Current Liabilities account? i.e. how do I associate the two if I have created the Current Liabilities account and it's not created automatically by the system when a new tax rate has been created?

 

I hope this makes sense.

If easier, we could have a video chat to take you through my problem.

 

Kind regards,

Fanos

M
mv32
August 25, 2021

I appreciate you for coming back and sharing more details, @katsaris_fanos-h.

 

I see and understand what you've gone through, and I'll make sure that the accounts you've merged will get back in order. To get this taken care of and check your accounts and categories in the Chart of accounts (COA), I suggest contacting our Care Support team. They can perform a share screen in a secure session to get your viewpoint.

 

Here's how:

  1. From the top right, select (?) Help.
  2. Go to the Search tab and then click Contact Us.
  3. Enter your concern about merging accounts in COA that messed up.
  4. Select Continue.
  5. Choose Chat or Get phone number.

 

You can reference this article: How and when can I contact Support?

 

On the other hand, to realize and understand how to separate liabilities on your expenses, I encourage consulting an accountant for professional advice. This way, you'll know what steps to take to get the proper sales tax and accounts configuration and how to do the math in every sale or expense transaction.

 

In case you wanted to see the accounts you merged recently and activate them, here's how you can view them in your COA:

  1. Go to Settings⚙️ and then select Chart of accounts.
  2. Click the Mini Gear⚙️ icon above the Action column.
  3.  Find the account in question or use the Search box.
  4. Select Make active (optional).

 

Activating accounts in COA will help you edit account names and other details.

 

Also, when you add an agency, it will automatically create an account in your COA. Though you can edit the name in that same account and add a new one, the tax amounts will still reflect in that account. See which accounts QuickBooks sets up for you.

 

Feel free to post here if you have other concerns about merging accounts in COA or after reaching our Care Support. I'm always here to help. Take care, and have a great day ahead!

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