I can share some information that can help you with setting up GST tax, @candra1.
I suggest reaching out to an accountant or a tax professional to verify if you need to change the GST tax. Once verified, you can create a custom tax agency.
Here's how:
- Go to the Taxes menu and click on Add tax.
- Select Custom tax.
- Set the Tax name, Description, Tax agency name, and all other information.
- Select the type of transactions this tax is applied to. Note: Usually, it'll be for both Sales and Purchase transactions.
- Enter the Sales rate or the Purchase rate depending upon the type of transaction selected.
- If the tax applied on purchases is reclaimable, select the box Purchase tax is reclaimable.
- Click on Save.
For detailed guidance, check out the article on how to create a custom tax agency. Please take note that depending on your location, QuickBooks may have taxes set up all ready for you.
After that, you can apply the GST to a product or service. More information can be found in this article: Add a GST category to your products and services. It'll take you through the process of determining which products or services require a GST category and assigning it to a product, inventory, or non-inventory item.
Let me know if you need further help changing your GST tax in QuickBooks. I'm always here to help. Have a great rest of the day!