Question
QB Desktop Sales Tax Payable is calculating incorrect value - not accounting for all sales tax collected and required to pay
Good Day,
I am using QB desktop 2021. All available updates have been installed as of 1/20/2022. I am trying to pay my quarterly sales tax for dates 10/01/2021 - 12/31/2021 however the amount due or liable amount in QB is not correct. It is not accounting for all taxable sales for the quarter 10/01/2021 - 12/31/2021. Whether I go in through the home page icon or from the Vendors drop down -> sales tax -> pay sales tax, I am seeing the same result. Yes, I am entering the correct date in “Show sales tax through”, I am entering 12/31/2021.
When I run a Sales Tax Liability report via Vendor drop down -> sales tax -> sales tax liability, it is reporting the incorrect value in the “Sales Tax Payable as of Dec 31, ’21” column. However, the report is showing correct values for “Taxable Sales”, “Tax Collected” and “Tax Rate”.
I have narrowed it down to 2 invoices that are not being calculated in the “Sales Tax Payable as of” amount. I have gone back and looked at the invoices for these 2 transactions and confirmed the invoice items are marked taxable, invoice date falls within the correct date range for sales tax due (both October 22, 2021), tax assignment for the customer is correct, tax rate is correct, tax due amount on the invoice is correct. I have no idea why these 2 sales transactions are showing up as taxable sales on the liability report but not being calculated in Sales Tax Payable.
Appreciate any help in resolving this issue. Thank you very much!