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The state refunded me a sales tax overpayment. How do I enter the deposit?

 
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Best answer 03-18-2019

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Moderator

Re: The state refunded overpayment for sales tax. How to I enter the deposit?

Thanks for joining this thread, Port City.

 

I can help you record the sales tax refund in QuickBooks Online.

 

You can enter it as a deposit and select the liability account used when paying your taxes.

 

Here's how:

  1. Click the Plus sign icon, then choose Bank Deposit.
  2. Select the correct bank account at the top.
  3. Scroll down to Add funds to this deposit section.
  4. Under the Account column, select your liability account (refer to the screenshot below).
  5. Enter the needed information and click Save and close.

image.png

 

Check out this link for more details: How to record bank deposits.

 

The Community always has your back, so don't hesitate to let me know if you have any questions. Have a good one.

9 Comments
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Moderator

Re: The state refunded overpayment for sales tax. How to I enter the deposit?

Hello there, @patti2.

 

Thank for posting in the QuickBooks Community. I'd be happy to help share on how you enter the deposit in QuickBooks Online for the sales tax refund.  

 

You can use bank deposit and use the expense account used when you pay your taxes. 

 

Here's how:

  1. At the top right, click the Plus icon. 
  2. Select Bank Deposit
  3. In the ACCOUNT field, select the bank account to which to deposit funds.
  4. Select the checkboxes of the transactions to deposit in the Select the payments included in this deposit.
  5. In the Add funds to this deposit table, enter the name of the state agency the item was Received From.
  6.  Enter that expense account in the ACCOUNT column.
  7. Select Save and close.

For more information about this process, I recommend checking this article: How to record bank deposits.

 

I've added some screenshots for your reference. However, if you need additional help in recording the deposit, feel free to call our phone support. They have the tools that can help you get to the resolution quickly. 

 

That should do it. I'm just a post away if you have any other questions about recording the sales tax refund. I'll be happy to help you out. 

Not applicable

Re: The state refunded overpayment for sales tax. How to I enter the deposit?

How do i do this in quickbooks desktop?

QuickBooks Team

Re: The state refunded overpayment for sales tax. How to I enter the deposit?

Hello there, @cdlac.

 

Thanks for joining this thread. Allow me to help and guide you on how to record deposit in QuickBooks Desktop for the sales tax refund.

 

Let me walk you through the steps: 

  1. At the top menu bar, click Banking
  2. Go to the Make Deposit option.
  3. If the Payments to Deposit window appears, click OK
  4. In the Make Deposits window, click the Deposit To drop-down and select the first bank account.
  5. Select the correct date transaction. 
  6. On the Received From drop-down arrow, select the name of the state agency. 
  7. In the From Account drop-down, select the appropriate account. 
  8. In the Amount column, enter the actual amount.
  9. Click Save & Close

For future reference, you may also check this article: Process sales tax adjustment.

 

If you need further assistance with the steps, I recommend calling our QuickBooks Desktop Support Team. They have additional tools to pull up your account and do a viewing session. 

 

Here's how to contact our phone support: 

  1. Click this link: https://help.quickbooks.intuit.com/en_US/contact.
  2. Select US version of QuickBooks Desktop, and click Contact Us.
  3. Type-in Technical Support on the search bar.
  4. Click the Get the phone number below. 

That should do it! If you have any other concerns about make deposit don't hesitate to leave a comment below. Wishing you and your business continued success. 

Not applicable

Re: The state refunded overpayment for sales tax. How to I enter the deposit?

I tried this and it didn't work.  Had a chat log with Franklin B from QB and couldn't figure it out.  When I make a journal entry to record the sales tax refund check being received, it does funny things to the sales tax liability account.  Why is this so difficult on the online platform?

Moderator

Re: The state refunded overpayment for sales tax. How to I enter the deposit?

Thanks for joining this thread, Port City.

 

I can help you record the sales tax refund in QuickBooks Online.

 

You can enter it as a deposit and select the liability account used when paying your taxes.

 

Here's how:

  1. Click the Plus sign icon, then choose Bank Deposit.
  2. Select the correct bank account at the top.
  3. Scroll down to Add funds to this deposit section.
  4. Under the Account column, select your liability account (refer to the screenshot below).
  5. Enter the needed information and click Save and close.

image.png

 

Check out this link for more details: How to record bank deposits.

 

The Community always has your back, so don't hesitate to let me know if you have any questions. Have a good one.

Not applicable

Re: The state refunded overpayment for sales tax. How to I enter the deposit?

Ok, so this works to deposit the funds.  But is there a way to actually change the period taxes?  i.e. the refund was for Jan - the actual refund payment came in May.  So when I record the payment this way it shows that month underpaid in the system.

QuickBooks Team

Re: The state refunded overpayment for sales tax. How to I enter the deposit?

Hi @PT-phx,

 

Currently, there isn't an option to change the liability period of your payroll taxes once you've already recorded it.

 

In addition, if cases like yours happen again, you'll have to record your sales tax refund on May since you received the actual refund in May.

 

Thus said, you can follow the detailed steps outlined by my colleague, @PreciousB, above in recording your sales tax refund.

 

Lastly, you can also read this article which can be your guide for any future tasks: Sales tax in QuickBooks Online.

 

It'll be always my pleasure to help if you have any other questions. I'll be keeping an eye for your response.

Not applicable

Re: The state refunded overpayment for sales tax. How to I enter the deposit?

QB will not allow me to choose a liability account for this type of transaction. Is our only option an expense account? Thanks!

QuickBooks Team

Re: The state refunded overpayment for sales tax. How to I enter the deposit?

Hope you're good today, The_Accountant.

 

If you're referring to the deposit page, we can try a few basic troubleshooting steps since QB will allow you to choose a liability account.

 

You can try using a private browser. It doesn't store local files or cache we'll know if it is a browsers related issue.

 

You can follow these shortcut keys for the private browsers:

 

  • Google Chrome: Ctrl + Shift + N
  • Mozilla Firefox: Ctrl + Shift + P
  • Internet Explorer: Ctrl + Shift + P
  • Safari: Command + Shift + N).

 

If you're able to choose a liability account, you can now go back to your original browser and let's clear the cache. It allows your browser to function more efficiently. You can check out this article: Clear my browser cache. 

 

You can also use a compatible browser with QBO. Alternatively, you can create a Journal Entry to record this transaction.

 

Let me know how it goes for you. I'll be right here to help you out.

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