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I'm pleased to help you display and pay the taxes you owe, Erik.
The tax collected is the total taxable sales multiplied by the tax rate. This represents the amount collected from your sales transactions. On the other hand, the sales tax payable is the total tax collected minus the payments made within the selected date range. It's important to note that the payable amount includes your payments, so it may not always match the total tax collected. This is why the Sales Tax Liability report only displays the sales taxes due. For more detailed information, visit this article: Review sales tax reports.
After checking the amount you owe, file your sales tax return and record your payments. I can guide you through the process.
File your return with the right tax agency
1. Visit your tax agency's website to submit your return online. If you haven't already, you may need to register for your state's e-filing service.
2. Complete the sales tax return form.
3. Finalize the filing of your sales tax return.
Record your sales tax payment
1. Navigate to Taxes, then choose Sales tax.
2. Look for the return you just filed, then select Review sales tax under the Action column.
3. Pick a filing method, then click Record payment.
4. Add payment details such as the Tax amount, Payment date, and Bank account.
5. Choose Record payment.
6. Select Back to sales tax center.
If you filed online, visit your tax agency's website to review your return’s filing status. If you filed by mail, you can call your tax agency for an update.
For a more thorough explanation, refer to this article: File your sales tax return and record sales tax payments in QuickBooks Online.
In case you want to save for your sales tax liability using the Smart Sales Tax Envelope, check out this article for more guidance: Set up and use Smart Sales Tax Envelope.
If there's anything else I can help you with, just give me a shout. Wishing you all the best!
