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Taxes are not included in the monthly Profit and Loss report, whipstar. This report focuses mainly on your business's operational revenues and expenses. Allow me to guide you through where to find the tax information.
To check the taxes payable, you can find them in the Balance Sheet Detail report as part of the liabilities section. Additionally, QuickBooks provides a specific report that displays comprehensive information which is the GST/HST Detail Report. This report focuses on summarizing the sales that are subject to sales tax. It highlights the total amount of sales made that are taxable.
Here's how to navigate to the Balance Sheet Detail Report:
1. Log in to your QuickBooks Online account.
2. Click on Reports from the left-hand side menu.
3. Type or find Balance Sheet Detail in the search bar.
4. Select the report.
5. Customize the date range and other filters at the top.
6. Click Run report to view the detailed report.
To access the GST/HST Detail Report follow these steps:
1. Sign into your QuickBooks Online account.
2. From there, select Reports.
3. Scroll down, under Sales tax, choose GST/HST Detail Report.
4. Open the report, set your filters like the time period, and then run the report to analyze GST/HST Detail Report based on the different tax agencies.
For a comprehensive guidance on how to run a Balance Sheet report in QuickBooks Online, check out this resource: Run a Balance Sheet report in QuickBooks Online.
For future reference, we can open this article on how to file your sales tax return and record your sales tax payment in QuickBooks Online: File your sales tax return and record sales tax payments in QuickBooks Online.
If you have any more questions about Profit and Loss report or Taxes, please don't hesitate to ask here in the Community. We'll provide continuous assistance. Have a nice day ahead.
