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Level 3

received payment date and filing tax through Quickbook

HELLO TEAM

First question

when you click the "received payment ", the date of payment has to be the actual date of payment, OR It could be any date that I entered the payment. 

For example.  The person A paid the cheque on Jan 13, 2019, and I received the money, but the I didn't put it in the quickbook until December 2019. 

Can I use the date as today to received the payment from person A, or the order has to be the actual payment date?

If I already put the date as today, how can I change it back to actual payment date?

 

Second Question,

 

I heard the Quickbook has the function to file the tax. Some small business owners to file the tax on the last day of year. Could you tell me how to do it? 

 

Thanks

Solved
Best answer December 30, 2019

Best Answers
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QuickBooks Team

received payment date and filing tax through Quickbook

Hello again Desiree 869,

 

These are great questions and I'm happy to go over these options with you so you're accurately recording payments and sales tax in your books.

 

When it comes to recording payments, it's typically best to record them with the date the payment was received outside of the program. This helps ensure that your monthly reconciliations are accurate since those are compared directly against your bank statements. When you go to reconcile for January, you're going to want to see the relating transaction in your reconcile screen of QuickBooks Desktop. Learn about reconciliation here: Reconcile an account in QuickBooks Desktop

 

To change the dates entered on a transaction, it's as simple as opening the transaction again and editing the date. You can do this in many ways, but one of the easiest is to go to the Customers menu, click Customer Centre, then single-click to select the customer in question. There, you'll see a list of transactions. Double-click the one you need to open it for editing.

 

As for sales tax, QuickBooks Desktop gives you the option to File Online or file outside of the program with the Paper or other filing method. If you have a return with a $0 balance, an amount owing, or a refund of $10,000 or less, you can use the File Online option. A 4-digit access code is printed on the working copy of your personalized return.

 

I recommend going through the sales tax articles in community to learn more. The collection starts with Set up sales tax in QuickBooks Desktop and there are hyperlinks to other related articles on it.

 

For further questions and assistance, I recommend getting in touch with QuickBooks Desktop support to give the specifics of your situation and learn all the options. Learn more here: Intuit QuickBooks Desktop software support policies

 

Enjoy your week!

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1 Comment
Highlighted
QuickBooks Team

received payment date and filing tax through Quickbook

Hello again Desiree 869,

 

These are great questions and I'm happy to go over these options with you so you're accurately recording payments and sales tax in your books.

 

When it comes to recording payments, it's typically best to record them with the date the payment was received outside of the program. This helps ensure that your monthly reconciliations are accurate since those are compared directly against your bank statements. When you go to reconcile for January, you're going to want to see the relating transaction in your reconcile screen of QuickBooks Desktop. Learn about reconciliation here: Reconcile an account in QuickBooks Desktop

 

To change the dates entered on a transaction, it's as simple as opening the transaction again and editing the date. You can do this in many ways, but one of the easiest is to go to the Customers menu, click Customer Centre, then single-click to select the customer in question. There, you'll see a list of transactions. Double-click the one you need to open it for editing.

 

As for sales tax, QuickBooks Desktop gives you the option to File Online or file outside of the program with the Paper or other filing method. If you have a return with a $0 balance, an amount owing, or a refund of $10,000 or less, you can use the File Online option. A 4-digit access code is printed on the working copy of your personalized return.

 

I recommend going through the sales tax articles in community to learn more. The collection starts with Set up sales tax in QuickBooks Desktop and there are hyperlinks to other related articles on it.

 

For further questions and assistance, I recommend getting in touch with QuickBooks Desktop support to give the specifics of your situation and learn all the options. Learn more here: Intuit QuickBooks Desktop software support policies

 

Enjoy your week!

View solution in original post