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Join nowWe are on a cash basis reporting system. When I generate my sales tax liability report, all of my deposits for the month are listed except for the credit card transactions. I have selected all payments to be listed on the report. What am I missing? Is there a setting for credit card transactions somewhere in Quickbooks that I need to change?
Thank you.
Solved! Go to Solution.
Credit card Payment Receipts, recorded as Receipt transactions in QB, don't include any sales or sales tax detail. They need to be applied to Invoices that capture the sale and the tax.
cash or accrual makes no difference
a CC is a loan, you pay the CC, paying down the loan
sales tax is for retail sales, not purchases which is what you do with a CC
Credit card Payment Receipts, recorded as Receipt transactions in QB, don't include any sales or sales tax detail. They need to be applied to Invoices that capture the sale and the tax.
Yes, I finally figured it out. Thanks for your reply.
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