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Tax center on QuickBooks is an amazing tool that helps you with everything which comes under handling various taxes. From running reports for tax liabilities to recording or editing tax payments, literally, everything is possible on QuickBooks.
This article will guide you step wise on how to record, delete or edit sales tax payments on QuickBooks.
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About Recording, Deleting, or Editing Sales Tax Payment in QuickBooks Online
At the time of collection of sales tax from your customers, as tax agencies, you will be requiring to convert those collections into payments made over them.
QuickBooks Online Sales Tax Center enables you in super easy methods to successfully track each tax jurisdiction, sales tax liabilities that are collected, completed tax payment transactions, and even tracking the balances which are due.
Why do you need to Record, Delete or Edit Sales Tax Payment on QuickBooks Online?
For all your taxable transactions, the sales tax center tool on QuickBooks helps you in recording each and every sales tax payment under one single platform.
Further to your respective needs, you can see how much sales tax has been owed in a current month, quarter, or for an annual term. Accordingly, you can also adjust the specified period for which you need to adjust the accounting based on accrual or cash.
How to Record, Delete, or Edit a Sales Tax Payment in QuickBooks Online?
This article would give you a detailed idea on recording, deleting, and editing sales tax payments in QuickBooks Online.
Reviewing Tax Reports
To begin with, the first one is reviewing tax reports for fetching tax liability reports. The steps involved for the same is as follows:
Step 1: Visit the Taxes Menu.
Step 2: Choose View Report.
This will help you to view tax owed and taxable amounts of sales. Now, if you wish to locate all tax payments, here’s what you need to do simply:
Step 1: Visit the Taxes Menu.
Step 2: Click on Recent Tax Payments and choose View All.
You can also choose for adjusting the data range or just hit on Customise to do refinements on the report.
The next in this section would help you to understand how to manage tax payments in QuickBooks Online.
The first one of which is recording tax payments and the following steps will detail out how to execute the same in QuickBooks Online.
Editing Tax Payments
Unfortunately, on QuickBooks Online, you cannot edit tax payments. If you wish to do so, you would be needing to delete the payment and start recording a new one.
To either delete or record tax payments, the following section would resolve your concerns.
Recording Tax Payments
Step 1: Visit the Taxes Menu.
Step 2: Under the tax Owed list, choose the tax agency for which you would be recording the payment and highlight the same.
Step 3: Choose Record Payment.
Step 4: Under Bank Account, choose the respective account from which you have been doing the payments from.
Step 5: Choose the dates of the payment along with tax ending tax period ending dates.
Step 6: Input the tax payment figures in the specified Tax Payment field.
Step 7: Once you are ready, choose Record Tax Payment.
Step 8: For printing check of the payment purpose, tick the Print a Check checkbox and tap on Record Payment and Print Check.
Deleting Tax Payments
For deleting tax payments, there are two aspects to it; the first one is to have a choice of deleting tax payments while the next one is about deleting sales tax payments.
Let’s have a look at the steps involved in deleting tax payments:
Step 1: Visit the Taxes Menu.
Step 2: Locate the payment and highlight the same which you wish to delete.
Step 3: Hit on Delete Payment and confirm Yes.
If you wish to hop on for deleting a sales tax payment, the following steps must be taken into consideration:
Step 1: Visit the Taxes Menu.
Step 2: Locate the payment and highlight the same which you wish to delete.
Step 3: Hit on Delete Payment and confirm Yes.
Using QuickBooks Online for some time now, the above-mentioned steps must not be hard enough to grasp and apply. However, for the newbies as well, this article will be able to guide you effectively on how to record, delete or edit sales tax payments on QuickBooks Online.
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+1-800-596-0806 or chat with experts.
Can there be any errors faced while Deleting Tax Payments on QuickBooks Online?
While deleting tax payments on QuickBooks Online, it is likely to face the most common error that states:
“An error occurred during deleting the transaction: We’re sorry, we are unable to delete filed tax right now. Please try again later.”
To resolve this, the following steps might be helpful:
Tap on the gear icon located on the top right and choose Company Settings. Locate Advanced on the menu placed on the left and hit the pencil icon. Unmark Close the books box.
What is Adjust a Tax payment on QuickBooks Online and when should I use it?
There might be times when you would be needing to make a suitable adjustment to your tax payments. To do this, you need to choose and check the Make Adjustment box while you are recording a tax payment.
This is mostly to be used when you want to increase or decrease the amount of tax owed for particulars like discounts, interest, credits, penalties, or if you need to correct rounding errors.
Why am I still seeing the Deleted Tax Payments on QuickBooks Online?
On QuickBooks Online, after you have finished deleting a tax payment, the page cannot auto-refresh itself with the latest deleted action change. You need to leave the current page and revisit the Taxes menu where you would be able to locate the tax payment that you have deleted are not appearing anymore.
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