2018-08-06 12:30:59What's New in QBOEnglishhttps://quickbooks.intuit.com/blog/us_blog/uploads/2018/08/pexels-photo-669615.jpeghttps://quickbooks.intuit.com/blog/whats-new/calculating-sales-tax-just-got-simpler/Calculating Sales Tax Just Got Simpler

Calculating Sales Tax Just Got Simpler

1 min read

Sales tax can be tricky. The numbers and rates change based on where you are, what you sell, and where you ship. Staying on top of the ever-changing tax laws is a job in itself. That’s why we’re thrilled to announce our new automatic sales tax experience in QuickBooks® Online.

Gone are the days of manual sales tax. Let QuickBooks do the math for you by calculating the exact amount you need to collect. We’ll let you know when and how much to pay your tax agency, and help you e-file your return directly in the product.

Best of all, we keep track of (and update) more than 60,000 tax laws. That way you can devote your time to your business while QuickBooks automatically keeps you compliant.

How QuickBooks Calculates Sales Tax

It might seem like magic, but there are a variety of factors that go into calculating your tax rate. We use info from each sale to calculate what you need to charge, including:

  • Where you’re registered to collect sales tax
  • Your physical business address
  • The physical address on the sales receipt or invoice

Want to see how sales tax gets calculated for a sale? Just select Sales tax on the transaction.

How to Turn on Automatic Sales Tax

Select Taxes on the QuickBooks Online dashboard.

Select View return on your monthly tax return.

Select Make the switch.

It’s that simple. Make the switch today to spend less time calculating sales tax and more time growing your business.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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