Re: If you use Venmo for customer payments, how do you collect and price for sales tax?
I was actually thinking more about the tax collection experience in the Venmo app itself, not accounting for it in QuickBooks.
When you request a payment, let's say for $20, you simply enter "$20." If you enter it into QB, you've only collected the $20 and not the sales tax... so then do you adjust your retail costs so the cost plus tax come out to $20? Or do you shake down the customer for a few cents?
My curiosity was whether or not those who regularly use Venmo work sales tax into their product pricing, or do they just keep track of the tax for different sales and services.