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Anonymous
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We are a tire seller. How do I set up the federal excise tax in my chart of accounts?

 
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Level 15

We are a tire seller. How do I set up the federal excise tax in my chart of accounts?

you can not set it up as a tax, QBO is not that flexible

 

you will have to create a service item for the excise tax and have it post to a liability account you create.

 

but when you enter the tax, you will have to calculate it, QBO does not do calculations on items the way desktop does.

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