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B
BookMent
February 25, 2022
Question

How do I correct Unassigned Sales Tax Amounts?

  • February 25, 2022
  • 1 reply
  • 0 views

Due to COVID we lost our Bookkeeper/Accountant and started using the Quickbooks Desktop ourselves over the past two years. (thats 3 years accounting)  I figured out 'almost' everything except didn't know about using the Sales Tax features for preparing and paying our BC PST & GST.  We simply looked at the yearly accumulation of taxes collected and ITCs and used the Write Cheques feature to process the online payment we made directly via out bank account.  Now I notice that our Trial Balance, and TurboTax T2 are incorrect.  I now have a long list of items on the Unassigned Sales TAx reports.

How do I repair this mess???

1 reply

T
Trish_T
February 25, 2022

Hi BookGate,

 

Welcome to Community!  It's important that your sales tax is entered correctly to avoid any discrepancies in your books.  I'll be happy to provide more information so you're on the right track with your work.

 

When you have transactions that haven't been given a sales tax code, it results in having unassigned tax amounts.  Using the Unassigned Sales Tax Amounts Detail Report is a great way to locate the transactions.  Once you open the transactions and enter the missing sales tax code, the unassigned amount will reduce.  Here's a guide to assist with resolving common sales tax issues.  If you feel this is a bit overwhelming and would like additional assistance with a more hands on approach, please don't hesitate to reach out to our support team.  They'd be happy to have the opportunity to navigate through the process with you and ensure you're back to business as soon as possible.  In addition, we'd be glad to assist you with locating a ProAdvisor in your local area, so you'll be connected when their expertise is needed.

 

Please don't hesitate to reach back out with other questions.  We're here for you!

 

 

 

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