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Today, I received payment from a customer. I entered the transaction in QB (online). Part of it was storage income, some was labor income, some was tow income. I had no trouble entering those. But then, I also charged sales-tax for what part of it was taxable. So I took that amount to "sales tax payable" (since I will have to pay that to my state of Kentucky at the end of the quarter).
But when I click on the taxes tab on the left, it shows nothing. Shouldn't this show the amount in my sales tax payable account? (see attached image)
Hello southc0085,
When you record the sales tax through the Bank Deposit manually, it flows directly to your register. Thus, won't allow you to pay the sales tax through the Sales Tax Center.
You can pay it by creating a check manually.
You can also browse this article to know more about sales tax payments: Manage Sales Tax Payments.
Feel free to leave your replies if you need more assistance with this.
@southc0085 wrote:
Today, I received payment from a customer. I entered the transaction in QB (online). Part of it was storage income, some was labor income, some was tow income. I had no trouble entering those. But then, I also charged sales-tax for what part of it was taxable. So I took that amount to "sales tax payable" (since I will have to pay that to my state of Kentucky at the end of the quarter).
But when I click on the taxes tab on the left, it shows nothing. Shouldn't this show the amount in my sales tax payable account? (see attached image)
It would appear that you using the deposit screen to break down the payment received - if so that is the problem
you should use a sales receipt, list the items for each area, marking them taxable or not, then let QB calculate and add the sales tax to the sales receipt. Then you make the deposit as one value, the items on the sales receipt tell QB hoe much to post to each income account
@Rustler wrote:
@southc0085 wrote:Today, I received payment from a customer. I entered the transaction in QB (online). Part of it was storage income, some was labor income, some was tow income. I had no trouble entering those. But then, I also charged sales-tax for what part of it was taxable. So I took that amount to "sales tax payable" (since I will have to pay that to my state of Kentucky at the end of the quarter).
But when I click on the taxes tab on the left, it shows nothing. Shouldn't this show the amount in my sales tax payable account? (see attached image)
It would appear that you using the deposit screen to break down the payment received - if so that is the problem
you should use a sales receipt, list the items for each area, marking them taxable or not, then let QB calculate and add the sales tax to the sales receipt. Then you make the deposit as one value, the items on the sales receipt tell QB hoe much to post to each income account
That makes sense. So I just went and did a Sales Receipt for it. It was one deposit to my bank account. But it was two checks from different customers. I entered them as two separate sales receipts. But it did not ask me what account to take them to. Also, on my banking tab, it still shows that line as not being added to my quickbooks. ???
I'm still struggling with this (see my reply above). Note: I don't have "items" set up for sale. I own a body shop. So the only sales I have are: Labor Sales, Material Sales, Storage Sales, and Parts Sales.
For example, today I took in $600 from one customer. $400 was labor sales. $150 was parts sales (I bought the parts and now I'm charging the customer), and $50 was material sales (I charge a bit of material for each job).
But when I go to do a sales-receipt, it does not give me the option to put my $600 into these 3 different sales accounts. What am I missing?
It worked fine on the deposit screen. But, as you said, doing it that way does not allow me to mark things as taxable.
Any additional help is greatly appreciated.
Hello there, @southc0085.
Thank you for posting in the Community. I'd be happy to help get this taken care of today.
As what Rustler mentioned, the items on the sales receipt will tell QuickBooks how to post to each income account. To make your "sales accounts" taxable, you can create them as items. This way, when you use them in a sales receipt, the amounts automatically post to the income account.
Here's how:
The following article contains additional information about this: How to create and use a products and services list.
After that, delete and recreate the sales receipt you've created. You can select the bank account in the Deposit to drop-down so that you don't need to make a deposit.
Finally, to clear the transactions on the Banking tab, you can go ahead and match them to the sales receipt created in your company file. For the detailed steps, please check out this article: How to add and match downloaded banking transactions.
Also, if you need to reach out for more help, our phone agents will be able to help you get to a resolution quickly.
Here's how you can reach them:
These resources should help to get you on the right track. Feel free to hit the Reply button if you have any other questions about sales tax. I'll be happy to help you further.
@MaryGraceS wrote:Hello there, @southc0085.
Thank you for posting in the Community. I'd be happy to help get this taken care of today.
As what Rustler mentioned, the items on the sales receipt will tell QuickBooks how to post to each income account. To make your "sales accounts" taxable, you can create them as items. This way, when you use them in a sales receipt, the amounts automatically post to the income account.
Here's how:
- At the top right, click the Gear icon.
- Select Products an Services.
- Click New.
- Select the product or service type.
- Enter the new product or service information. Make sure to select an income account.
- Put a check mark on the Is taxable box.
- Click Save and close.
The following article contains additional information about this: How to create and use a products and services list.
After that, delete and recreate the sales receipt you've created. You can select the bank account in the Deposit to drop-down so that you don't need to make a deposit.
Finally, to clear the transactions on the Banking tab, you can go ahead and match them to the sales receipt created in your company file. For the detailed steps, please check out this article: How to add and match downloaded banking transactions.
Also, if you need to reach out for more help, our phone agents will be able to help you get to a resolution quickly.
Here's how you can reach them:
- Go to https://help.quickbooks.intuit.com/en_US/contact.
- At the top right, select your QuickBooks version.
- Select a topic.
- Click on the Get Phone Number or Start a Message button.
These resources should help to get you on the right track. Feel free to hit the Reply button if you have any other questions about sales tax. I'll be happy to help you further.
MaryGraceS - You answered my question. I've racked my brain and googled everything trying to figure this out. The part that I wasn't understanding is needing to have "sales items" set up. I didn't have those set up. Now I do and they are all going to the correct account.
I do have one slight problem that just arose. I made a depsit to my actual bank account a week ago. It's for $1,286.40. $686.40 of that was for sales I made to a particular customer. I entered a sales-receipt for that (I did it tonigth since I just now figured out how to do it). The other $600 was a contribution that I made to the business. I have not done anything with that (I don't know how to record that).
The problem is: when I go to the banking tab, it shows that $1,286.40 in the "under review" tab. But if I click "Add" on that, it's going to double book the $686.40 that's I've already recorded via the sales-receipt. And how in the world would I tell it that $600 of that was for a contribution?
@MaryGraceS wrote:Hello there, @southc0085.
Thank you for posting in the Community. I'd be happy to help get this taken care of today.
As what Rustler mentioned, the items on the sales receipt will tell QuickBooks how to post to each income account. To make your "sales accounts" taxable, you can create them as items. This way, when you use them in a sales receipt, the amounts automatically post to the income account.
Here's how:
- At the top right, click the Gear icon.
- Select Products an Services.
- Click New.
- Select the product or service type.
- Enter the new product or service information. Make sure to select an income account.
- Put a check mark on the Is taxable box.
- Click Save and close.
The following article contains additional information about this: How to create and use a products and services list.
After that, delete and recreate the sales receipt you've created. You can select the bank account in the Deposit to drop-down so that you don't need to make a deposit.
Finally, to clear the transactions on the Banking tab, you can go ahead and match them to the sales receipt created in your company file. For the detailed steps, please check out this article: How to add and match downloaded banking transactions.
Also, if you need to reach out for more help, our phone agents will be able to help you get to a resolution quickly.
Here's how you can reach them:
- Go to https://help.quickbooks.intuit.com/en_US/contact.
- At the top right, select your QuickBooks version.
- Select a topic.
- Click on the Get Phone Number or Start a Message button.
These resources should help to get you on the right track. Feel free to hit the Reply button if you have any other questions about sales tax. I'll be happy to help you further.
MaryGraceS - I replied to this a few minutes ago but for some reason it didn't show up. So if you see this twice, I apologize.
You answered my question perfectly. I did not have any sales items set up. I have now set those up and they are going to the correct sales account. Perfect. But I now have an ancilary problem:
There is a line on my banking tab in the "under review" section. It's for $1,286.40. I made that deposit to my physical bank a week ago. So just now, I went in and did a sales receipt for $686.40. That part of it was sales on a particular job I did. But the other $600 was just a contribution that I made to the business account.
The problem is, the $686.40 is already recorded in my books when I did the sales receipt. If I "add" this transaction, it will duplicate that amount, right? What do I do?? The $600 contribution -- I don't know how to record that in quickbooks (yet another question I have).
If you have more than 1 item in a deposit:
1. In each SR choose Undeposited Funds instead of the bank account, in the Deposit To box
2. Create a Bank Deposit where you will see all the SRs where you used UF. Use the bottom part of the Bank Deposit for anything else where there is no SR, like the $600, which you send directly to the COA account. The total should agree to the actual amount deposited.
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