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Level 1

How do I record sales taxes that is collected by online sales such as Amazon, eBay and Walmart, who will also pay on my behalf?

How do I record sales taxes that is collected by online sales such as Amazon, eBay and Walmart, who will also pay on my behalf? Since this paid BEFORE I get it as part of my deposit, I am not going to be paying this but I still have to record this. If I record it, I can't record a negative tax. What should I do? Currently, what I've been doing is to record my lump sum deposit per week as a sales receipt so I can deduct inventory based on what is paid/sold. I will enter all my fees as a negative amount so it will end with my deposit amount. However, Sales Tax is throwing me off. If I'm not wrong, amazon, ebay and walmart will collect and pay sales tax on my behalf for all states that collect including my own (IL) so I don't have to manually pay for it myself.

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QuickBooks Team

How do I record sales taxes that is collected by online sales such as Amazon, eBay and Walmart, who will also pay on my behalf?

Hey there, sweetesthoneybee. 

 

I'm happy to give you some feedback. You can either enter an adjustment when you make the tax payment or create a sales tax item and use it on your sales transactions.

Please note that if you're using this method, you can't pay sales tax through the Sales Center as it uses a special liability account that you can't link to products and services.

 

For more in-depth guidance, refer to this help article: Enter the sales tax amount manually and follow the steps suitable for you. 

 

If you have any other questions, feel free to post here. Thank you and have a nice afternoon. 

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Level 13

How do I record sales taxes that is collected by online sales such as Amazon, eBay and Walmart, who will also pay on my behalf?

@sweetesthoneybee 

Explore this AST Filing and Reporting app to integrate with your marketplace accounts. Unfortunately it only support QBO. You may import the data manually to QBD if required.

https:// taxjar.grsm.io/mytax

 

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