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In QuickBooks Online (QBO), there isn't a specialized report specifically tailored for tracking or analyzing economic nexus with another state, Tina. However, there are alternative reports you can utilize to address this reporting requirement effectively.
While there isn't a dedicated report for economic nexus, you can utilize the Sales Tax Liability report. It outlines your total sales tax obligations by jurisdiction for compliance purposes.
Additionally, the Sales by Customer Summary or Sales by Customer Detail reports provide insights into all sales transactions categorized by customer location. This allows you to view the distribution of sales across different states.
To run a report, follow these steps:
1. Navigate to the Reports menu.
2. Type the report name in the field.
3. Select the report to open it.
You can also customize the report to display the filters you want to appear.
If you wish to download your report to Excel format, feel free to visit this article for guidance: Export your reports to Excel from QuickBooks Online.
Moreover, if you need assistance with a specific task or managing your account, don't hesitate to reach out to our QuickBooks Live Expert Assisted team. These specialized professionals are available to assist you with all your business needs.
By leveraging these reports, you can evaluate your business activities exceeding the statutory thresholds for economic nexus in various states, helping you remain compliant with diverse state tax laws. If you need further assistance, please don't hesitate to click the Reply button below. I'm always here to back you up.
