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May 18, 2021
Question

Is there a way for me to see my total GST per quarter without going into every single transaction and adding it al up? Is it separated somewhere?

  • May 18, 2021
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1 reply

May 18, 2021

Hi everesthydrovac-,

 

I'm glad to see that you're reaching out in the QuickBooks Community for answers to your questions. QuickBooks Oline has a comprehensive sales tax module that tracks your sales tax, so you don't have to. Let me explain how it works.

 

You set up your sales tax by clicking on Taxes in the left navigation menu. The program will ask a few questions: What province do you do business in, how often you remit, and do you charge or collect sales tax. It then creates default sales tax codes and the accounts needed to track your sales tax amounts.

 

When you enter transactions that have sales tax on them, you use the appropriate tax code from the list. QuickBooks Online posts the amount of sales tax in the sales tax liability account. The balance will increase or decrease depending on whether you paid the amount or collected it.

 

 When you want to review the balance on the account or file the return and record the payment/refund go to Taxes from the left navigation menu. In the Sales Tax tab, you'll see the balance in the agency box at the top. The steps are in this article for filing the return and recording the payment/refund: File your sales tax return and record tax payment in QuickBooks Online.

 

Here are a couple of other articles related to sales tax that you can review:

When you file your return, the amount is removed from the tax liability account and posted to the tax suspense account. When the payment/refund is recorded, it's removed from the suspense account. 

 

At any time, you can go to the tax module and view the balance. If you have specific dates that you're interested in viewing, look at a Sales Tax report. 

 

To view a Sales tax report for a specific time period, follow these basic steps:

  1. Go to Reports from the left navigation menu.
  2. Scroll down to the Sales Tax reports. Choose the report you're looking for, perhaps the Summary or Detail report.
  3. Once the report opens, you'll see date boxes at the top of the report. Here you can change the dates to match what you want to see. Click Run Report.

If you have any questions, please let me know. Take care.