Hey Moosengale,
Setting up a charity in any accounting software can seem like an overwhelming task due to the very particular regulations involved. Thanks to the advanced configuration options available in QuickBooks Online, we can set up your books to streamline your accounting going forward. I've got your back, and I'm confident we'll get everything set up in no time.
One thing to note before going forward, is you may have specific portion of sales tax that can be refunded. That part will need to be set up manually. Setting up taxes to be filed (and refunded) annually is just a couple of easy steps:
- Select Taxes from the left menu.
- Select Sales Tax at the top.
- Click on Manage Sales.
- On that page, click the drop-down arrow beside Add Rate.
- Select Edit Agency Settings.
You'll be able to specify the required start date when you prepare your first sales tax return, so you'll be able to start at the right place. Please speak to your accountant or tax agency regarding what portion of your taxes you can claim. You can easily invite your accountant as a user so you can work on this together. To find one in your area, simply head to the My Accountant tab in QuickBooks Online then click on Find a pro to help. The setup for this custom rate would be similar to the steps outlined in this article: How to set up a sales tax rate for Meals and Entertainment
I'm here for you, so feel free to reach out any time. Let me know if you want more help setting up the tax rates too.
