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accounting606
Level 1

Is anyone having trouble with Income total on GST reports against the Profit and Loss report?

I found some of my sales on Profit and Loss report is not on GST reports.
3 Comments 3
Alex M
QuickBooks Team

Is anyone having trouble with Income total on GST reports against the Profit and Loss report?

Hi there accounting606,

 

Thank you for reaching out about your tax report. QuickBooks Online is a great tool able to help you keep track of taxes on sales and expenses so you know the amount to file with the government. I can provide some information as to why there might be a difference.

 

The first thing that may be a cause for the difference is the use of the tax code out of scope. That tax code won't pull the line to the line of income on the tax report, as it's out of scope of sales tax. if you need it to affect the line of income of the filing, you'd need to use either zero-rated or exempt depending on the situation. This information can be viewed in the section of this article titled Why does 'taxable sales' (ex. GST return line 101) of my return not match my total Income on my Prof...

 

Another reason would be using journal entry lines to affect an income account, without adding a sales tax code other than Out of scope to the line. If a tax code isn't present, or there is out of scope chosen, it will not affect the income line of the tax report.

 

If you have any other questions, feel free to reach out here.

accounting606
Level 1

Is anyone having trouble with Income total on GST reports against the Profit and Loss report?

Thank you for the response.

Any tips on correcting this error?

 

Alex M
QuickBooks Team

Is anyone having trouble with Income total on GST reports against the Profit and Loss report?

Hello again accounting,

 

One report to help locate transactions with the out-of-scope tax code would be the Transaction Detail by tax code. The report would show the transactions grouped by each tax code, including one section with the out-of-scope transactions. You can click on transactions in this report to modify it.

 

If you have any other questions, feel free to reach out here.

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