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info-candlecorne
Level 1

Can I allocate a percent of each deposit made by my merchant services into a tax liability account automatically?

I live in a 9.5% sales tax area. I have included tax in final price at the register. Now I want QB to automatically take out the tax from my merchant services deposits and use those to pay my quarterly sales tax bill. Can I get a witness?
1 Comment 1
Catherine_B
QuickBooks Team

Can I allocate a percent of each deposit made by my merchant services into a tax liability account automatically?

Hello there, info-candlecorne.

 

The option to automatically allocate the sales tax deposit into your sales tax liability is unavailable, you'll want to process it manually. Here's how:

  1. Go to Taxes, then Sales Tax.
  2. Find the return you just filed, then select View return.
  3. To record your tax payment, Select a filing method. Then, select File manually.
  4. Add the Tax amount, Payment date, Bank account. 
  5. Select Record payment.
  6. Your return is now marked as paid. 

For more details in managing your sales taxes, check out these articles:

 

Let me know if you need more help. You take care and have a good one!

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