I'll share with you the two options on how to adjust your sales tax in the program, @alittlesuga1.
If you're using the automated Sales Tax Center, let's first create an account for the sales tax adjustment. You can set up an expense account if you need to increase your sales tax due. To decrease the amount, set up an income account. With this, I'd suggest consulting your accountant to determine the appropriate account and detail types. Once verified, proceed with the steps below.
Go to Accounting from the left menu.
Select Chart of Accounts.
Choose Income or Expense from the Account Type drop-down.
Select the account’s Detail Type.
Name your adjustment account, such as Sales tax due increase.
Hit Save and Close.
Second, let's go to the Sales Tax tab to add an adjustment. I'll guide you how.
Go to Taxes from the left menu.
Select the Sales Tax tab.
Locate the tax period you need to adjust and hit View return.
If you're using the old Sales Tax Center, let's check the Make Adjustment box when recording a sales tax payment. Then, enter the adjustment amount and its reason. After that, select either an income or expense account to track it. You can refer to the first batch of steps above if you haven't created an account for this. See the screenshot below for your visual reference. For more information, view the Adjust a sales tax payment through this article: Manage Sales Tax Payments.
Furthermore, you can always run the Sales Tax Liability report in the program. It provides you a detailed look at the taxes you owe and why you owe them. Also, it helps you ensure everything is accurate before you file your return to the tax agency. Just go to the Reports or Taxes menu to complete this task.
I'll be right here to help if you need anything else. Enjoy the rest of your day, @alittlesuga1.
How do you add and adjustment to round down? My actual sales tax return is -.02 then what QB calculated. However - the adjustment does not allow to add a negative adjustment. It says "This value is out of range. Please provide a positive value."
I frequently owe a few cents less than what QB has calculated, so I need to be able to add a deduction adjustment much more often than I need to add.
Also, my QB shows my return is due on the 20th...it's actually due on the 25th in Kansas.