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October 11, 2020
Question

I'm in BC. I have purchases that have not had PST charged, but are taxable. I understand I need to add that tax to my PST liability. How do I do this?

  • October 11, 2020
  • 1 reply
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1 reply

PatriciaT
October 12, 2020

Hi QED,

 

The Sales Tax Centre is QuickBooks Online helps you track all your sales taxes collected and paid so you can prepare accurate tax returns for your business. Making sure you have the proper tax codes assigned to your transactions, is therefore essential to ensure accuracy across your books. I'll be happy to assist you with this.

 

After you enable sales tax in your account, QuickBooks automatically creates a list of common sales tax codes based on the province you selected. Here's an article with the list of tax codes you should expect for each territory: Common sales tax codes

At this point, you are now able to view a Sales Tax field on your sales forms and purchase forms for you to select the proper tax codes when applicable. For situations where you need to charge sales tax for an additional province, you'd first have to set up a new tax agency in the system. This article shows you how: How to set up a new sales tax code

 

In case you're not sure of which tax code to select for your transaction, I'd recommend talking to your accountant or checking with the CRA: Canada Revenue Agency

If you don't have an accountant, you can find one on our Find-a-ProAdvisor website

 

I hope this helps! Have a great day.