I created a custom tax code that was only applied to Purchases. How do I edit an Active Tax Code to apply to both Sales and Purchases? I am able to edit the Name, Description, tax percentage, even Effective Date, but I am unable to edit whether it is to be applied to Sales, or Purchases, or both. Is there any way to do this?
It's important you're able to set up a tax code which applies to both Sales and Purchases. Don't worry, I'll show you how to do just that.
You'd need to add a new Custom Sales Tax code from your tax center. This option is rarely used, since any code recorded this way will explicitly not report to any Federal or Provincial Tax Agencies (i.e., Canada Revenue Agency, Receiver General, etc), and won't help with filing/reporting to these types of agencies. It's also important to note that Custom tax must be in a percentage format, not a particular dollar amount.
Here are the steps on how to add a custom sales tax code:
Make sure the tax rate applies to both sales and purchases as indicated in the screenshot. Give these steps a try and let me know how you make out. I'll be on standby.
I don't know why you just don't say it is not possible to edit a sales tax code after it is set up. QB should have strong warnings and better information about setting things up when it is not editable after the fact!
I hear you on this, GolferGirl. I want to make sure your feedback is heard and that you get the support you need in a timely manner. You can send feedback directly to our engineers by clicking the Gear icon and looking for Feedback. If you have questions about your sales tax, don't hesitate to ask. I'm here to help.