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palmertreecare19
January 13, 2023
Question

How do I make sure HST is being calculated on invoices as I prepare them?

  • January 13, 2023
  • 1 reply
  • 0 views
I noticed that there is no tax shown on an invoice I created.  I haven't been able to locate where to edit that and an explanation of the difference between "out of scope of tax", "exclusive of tax" and "inclusive of tax".

1 reply

A
Amanda-B
January 13, 2023

Hey there palmertreecare19,

 

Welcome to the QuickBooks Community! Thanks for reaching out to us here. Making sure you're recording your transaction correctly is important. I would be happy to provide some information.

 

It's important that you have a full understanding of sales tax to ensure your transactions are accurate and aligned with government guidelines.  The Out of Scope tax code should be assigned to transactions that have no impact on your tax liability or returns. Tax Inclusive refers to the tax amount that is included in the price of purchase and Exclusive of tax means tax is calculated at the point of final transaction. I encourage you to speak with an accounting professional if you're not confident in which one applies to your transactions.

 

If you have any other questions, feel free to reach out to us here.

P
palmertreecare19Author
January 13, 2023

Thank you for your help.  I was able to locate the correct function within QB to set this up correctly.  As often happens, once I ask a question the answer appears more easily. 🙂

A
Alex M
January 13, 2023

We're happy to assist, palmertreecare19. If you have any other questions, feel free to reach out here.

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