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K
kfeicht-hotmail-
March 23, 2023
Question

How do I record daily sales with sales taxes as separate entry? Total sales for day with different tax codes so I need to enter each tax payable as an item.

  • March 23, 2023
  • 1 reply
  • 0 views
We have GST and PST payable and I would like to use the sales template but I get an error when I try to add the sales tax payable accounts. If I don't enter this way, the sales tax reports do not include monthly sales, so I am trying to change how I enter daily sales.

1 reply

H
Henock K
March 23, 2023

Hi kfeicht-hotmail-,

 

Welcome to the Community. It's essential to correctly record your sales tax to keep your books balanced. QuickBooks Online is a great program that offers the ability to track your sales tax to make sure that the correct amount is reported to the CRA. I'd be glad to point you in the right direction to record daily sales with sales taxes as separate entry.

 

To record your sales with sales taxes as separate entries, I encourage you to use the journal entries. The journal entry will allow you to choose your sales and sales tax accounts. If you're unsure of which accounts to use for journal entry, I recommend contacting an accountant. They'll be able to point you in the right direction to record your journal entry to keep your books balanced. If you don't have an accountant, we can help you locate a ProAdvisor in your local area.
 

Let me know if you have any questions, I'll be happy to help.

K
kfeicht-hotmail-Author
March 26, 2023

Thanks for the reply. I am entering through journal entries. However, the sales do not report in the Sales Tax Agency reports when entered this way, so I was hoping there was a solution. 

Thanks for your assistance. 

T
Trish_T
March 27, 2023

Hi kfeicht-hotmail-,

 

Thanks for getting back to us here.  QuickBooks Online let's you record your daily sales in one sales receipt.  Here's a helpful guide for your reference.  This will keep your reports accurate and provide peace of mind.  I hope you find this to be helpful.

 

If you have any other questions, feel free to reach back out.  We're always glad to assist!

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