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nat-sukumar
Level 1

How to record a sales tax payment to Federal

 
1 Comment 1
JenoP
Moderator

How to record a sales tax payment to Federal

Hi there, nat-sukumar.

 

You can record the sales tax payment using a cheque or expense. Here's how:

 

  1. Go to the Expenses menu and select Expenses.
  2. Click New transaction in the upper-right hand corner.
  3. Select either Expense or Cheque.
  4. Enter all other details such as Date , Amount, and tax agency.
  5. Click the drop-down list for Amounts are and select Out of Scope of Tax.
  6. Under account or category details, select the appropriate Tax Suspense account, representing the tax to pay, from the drop-down list in the Account field.
  7. Click Save and close

 

Here's an article for more details: Record A Sales Tax payment With Cheque Or Expense

 

Please let me know if you have other questions. 

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