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grace6
Level 1

How do I enter entry in Quickbooks for GST payment for import of goods

 
1 Comment 1
MaryLandT
Moderator

How do I enter entry in Quickbooks for GST payment for import of goods

Hi there, grace6,

 

You can entry transactions in QuickBooks Online (QBO) for GST payments by making the item taxable. 

 

QBO will automatically track your sales tax for you through the Tax feature. To use this feature, you'd need first to turn it on, then create your tax codes as necessary.

 

Here's how:

 

Turn on tax tracking

  1. Click Tax on the left menu, then select Set up tax.
  2. Set up the tax agency details such as the name of your tax agency, any official tax number that has been assigned to your company, your reporting method, how often you file your tax to your tax agency, and whether this tax is meant for sales or purchases, then click Next.
  3. Follow the steps to finish the setup and select Done.
  4. Once the sales tax is set up, you'll see the Tax Centre. Also, the Tax/GST column appears on your sales and purchase forms.

Add tax rates

  1. In the Tax Centre, select Add Tax.
  2. Choose which type of tax rate you want to set up.
  3. Enter the details of your tax rate. If you need help with this screen, select the help button (yellow question mark).
  4. Click Done when finished.
  5. Once done, you create and apply sales tax to your transactions and sales forms.

After entering those entries with the sales tax, it's time for you to pay and file GST in QuickBooks Online.

 

Let me know if you need additional information, and I'm always around to provide your needs. Thank you and take care always!