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Best answer February 21, 2021
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Hello there, 9130 3485 0009 5146. Thanks for getting back to us.
You may want to use the Tag feature to label your job/sales transaction as Income Tax or not. Let me show you how:
- Open invoice.
- Enter the needed information.
- Click Manage tags link. Then, create a tag name.
- In the Tags field, start typing to add the tag you created.
- Then, Save.
To learn more about the Tag feature, click here. Then, you can run a Profit and Loss report with the tags in QuickBooks Online. You can customize the report and choose the Tag name. Here's how:
- Go to the Reports menu.
- In the search box, enter the Profit and Loss report
- Select the Customize button.
- Under the Rows/Columns section, go to the Columns drop-down and select the Tag group or Ungrouped Tags.
- Check the boxes of other aspects you'd like to show in the report.
- Then, hit Run report.
Check these articles for additional information about handling reports in QBO:
Let me know if you have other questions. Take care and stay safe always.
Hi there, 9130 3485 0009 5146.
QuickBooks Online uses the Automated Sales Tax feature to calculate sales tax for your transactions. The program computes the total tax rate based on where you sell and ship the items, the product’s tax category, and tax-exempt status (customer).
We’ll have to enter the correct addresses for your customers on their profile. This is to ensure the accurate tax rate and the amount will show on the invoice or sales receipt.
Here’s how:
- Go to the New menu in the upper left and choose Invoice or Sales Receipt.
- Fill in the field boxes with the right details.
- Check the total sales tax at the bottom.
- Select See the math or the total tax amount to open the Let’s calculate your tax rate window.
- This will display a detailed breakdown of the sales tax.
- If you wish to change the amount, click the Override this amount hyperlink.
- Input the rate and pick the reason for changing the information.
- Press the Confirm and Close buttons.
I've included a screenshot of how the screen looks like.
To check the owed taxes, run the Sales Tax Liability Report. Then, click on the amount to see the customer’s name. On the report, you’ll see the list of tax agencies and their related areas.
I’m adding some articles that can help with your future tasks. These resources outline the complete steps on how to set QBO to collect sales taxes, add tax categories to items, and other sales tax activities.
Keep in touch if you have any clarifications or other concerns. I’m always ready to lend a helping hand. Have a great week ahead.
Hello there, 9130 3485 0009 5146. Thanks for getting back to us.
You may want to use the Tag feature to label your job/sales transaction as Income Tax or not. Let me show you how:
- Open invoice.
- Enter the needed information.
- Click Manage tags link. Then, create a tag name.
- In the Tags field, start typing to add the tag you created.
- Then, Save.
To learn more about the Tag feature, click here. Then, you can run a Profit and Loss report with the tags in QuickBooks Online. You can customize the report and choose the Tag name. Here's how:
- Go to the Reports menu.
- In the search box, enter the Profit and Loss report
- Select the Customize button.
- Under the Rows/Columns section, go to the Columns drop-down and select the Tag group or Ungrouped Tags.
- Check the boxes of other aspects you'd like to show in the report.
- Then, hit Run report.
Check these articles for additional information about handling reports in QBO:
Let me know if you have other questions. Take care and stay safe always.
