How can I add a row to show 5% sales tax in my invoices?
Great question! I'm happy to help you with setting up your sales tax in QuickBooks Online since I know it's such an important feature for business owners. With the sales tax module, QuickBooks users can be confident in the calculations and when they're making remittances to the government. Setting up sales tax is just a few simple steps.
Select Taxes from the left menu.
Click Set up sales tax.
Choose a province or territory from the drop-down menu and click Save.
Enter the details for the sales tax Agency setup.
Click Next and then Got it to finish.
Now you'll see a field to add sales tax on your transactions. When you choose the sales tax code, the program will make the calculations and give you a breakdown in the Subtotal area of the form. Here's an example of what it might look like with the Ontario sales tax code chosen.
Feel free to set up the provincial tax codes you need or set up a custom tax code if needed. This article walks you through how to do that: How to set up a new sales tax code
In order to have the taxes track properly to the sales tax module for accurate calculations, it's important to use the Sales Tax field on forms. This will help when it comes time to record sales tax filings.
I hope that helps. Feel free to ask more questions!