Taxes
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Hello,We're required to collect RST on 30% of the invoice and GST on 100% of the invoice. Is there a way to force Quickbooks Online to show RST on only the relevant portion? While I know I can override the amount, it still says RST @ 7% on 30,000, but it should say RST @ 7% of 9000. Thanks!
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I am trying to set up my quickbooks and I when I am writing up my Credit card, it is just easier if I can have a sales tax code that has GST included. I don't always get receipts from the company and it is time consuming to pull the GST out.
I'm not registered for PST with the Ministry of Finance so I don't need to track or report PST. But, when expenses are entered I need to correctly allocate the amount paid between recoverable GST input tax credits and the expense (including PST paid).
I`m very new to bookkeeping. This is probably a very basic question. Is there a typical tax option I can select? When the tax is clearly displayed I choose H for HST. But besides that there's multiple options that I'm confused about. There's out-of-scope, exempt, zero. What's the difference and does it really matter which of those I choose? What's the impact of making the wrong selection? If tax isn't mentioned on an invoice do I just assume there isn't any? I have an invoice for $10K for flight tickets with no tax mention, which is very odd.
I have set up sales items and all to make Daily Sales Records but I can't make the Total to Zero in my clearing account... What do I do wrong
I am setting QST in QB Desktop Enterprise. Should I put 9.975% on QST tax item or 14.975% on QST item code? If I put 9.975% to QST item code on purchase and sales, does it mean I need to create a standard QST/GST purchase and sale group which includes 5% GST and 9.975% QST in the tax group? I tried both and test in QST Tax agency report. However, I did not see any 5% GST is shown on the line 103 QC QST report. I only see 9.975% is shown on line 206. Can anyone helps? Thanks. Ec184 Ec184
Is there an easy way to enter a complex credit card receipt when only some of the items are taxable? For example, I have a receipt with 40 items on it, totalling $81.13. The subtotal is $75.05, GST is $2.83 and PST is $3.25. Obviously, tax was not charged on all 40 items or the taxes would be higher and the subtotal lower. Is QuickBooks capable of working backward from the tax amounts to find out what amount was taxable? Or do I need to enter each item individually and enter whether it was exempt, G, P, or S? If anyone knows a simple/easy/better way to handle receipts such as these so that the taxable and non-taxable amounts are accurate, I would really appreciate it. I could just enter the whole subtotal under the S tax code, and then override the GST and PST amounts below, but as this is not accurate, I'm not sure this is the best way to handle it.
Client started using QBO Jan 2018. He paid his GST/PST remittance in 2018. Since we just started in Jan 2018 how can we enter the 2017 GST/PST collected in a lump sum and GST/PST paid in a lump sum so we can apply the payment to these accounts to zero the 2017 taxes off.
In one of my clients books, it seems all sales taxes are not working. This client books were converted from Quickbooks Desktop to QBO last March. I heard someone said it has something to do with the conversion. How do I solve this problem? Thank you
