Hello info-islandlifep,
It's a pleasure to see you in Community. Recording a sales tax expense on imported goods is essential, in keeping your books balanced. QuickBooks Online enables you to record the transaction seamlessly. I would be happy to assist!
Follow these steps to record a transaction for sales tax only;
1. Open Expenses from the left menu and select New transaction
2. Use the ▼ dropdown menu and select Expense
2. Complete the necessary fields for the Payee, Payment account, Payment method and Payment date
3. On the first line, under Category details, select an expense account related to the imported goods in the Account column
4. Enter 0.01 in the Amount column
5. Select a tax code for the tax type paid
6. In the Account column on the second line, select the same account
7. Enter -0.01 in the Amount column
8. Select 'out of scope' for the tax code
9. Edit the fields below the Subtotal to reflect the amount of tax paid for each tax type
10. Hit Save.
That's it!
Feel free to reach out again, if you have any other questions. We would be glad to help!
