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Is there a way to seperate the sales tax when I am receiving a payment or making a deposit and move it to the Sales Tax Payable liability account without creating an invoice in QBD for Mac 2020? Not currently invoicing from QB.
Hi there, dapperdanman.
Thank you for visiting the QuickBooks Community. I'll ensure to provide details on how you can split the sales tax and move it to the Tax liability account in QuickBooks Desktop for Mac.
Once you’ve set up your sales tax, you’re ready to create taxable sales. Then, QuickBooks automatically charges and calculates sales tax when you create sales forms. With this, separating a sales tax to move it to the Sales tax Payable liability account will accomplish by creating a deposit. Then, to non-sales transactions like bills, checks, and purchase orders. This is to avoid any conflict with the program in managing Sales Taxes as a function.
To create a deposit:
Then, before creating non-sales transactions like bills, checks, and purchase orders, you'll have to create an Expense account. This is to track sales tax on purchases as an expense (not to be paid later) Please follow the steps below.
Once done, create an Other Current Liability account to track sales tax on purchases as a liability (to be paid later). Follow these steps:
Then, when it is time to pay this sales tax, you can view the liability that has been accrued by looking at the Chart of Accounts. This amount can be paid with a regular check.
Lastly, you may refer to this article to view details on how a taxable sale transaction works in QBDT for Mac: Collect sales tax in QuickBooks Desktop for Mac.
Reach out to me if you have further questions about managing sales tax in QuickBooks Desktop for Mac. I'll be happy to answer them. Wishing you the best.
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