I have set up expense accounts for all of the tax counties I do business within NY. When purchasing supplies, and they are taxable sales, I always enter the bill with materials cost and the taxes paid separately for that county. This way I can track the credit for sales tax paid. When the time arrives for filing a return they ask for supporting documents for the credit I request. What is the best report to show all bill items ( Mat , Tax Pd, TTL invoice, Customer, Vendor, ect... ) for these transactions ?
Happy to have you here on the Community page, @Mend1995.
QuickBooks Desktop is compliant to the IRS thus tracking sales taxes for purchases is currently unavailable. In your case, you can the Custom Transaction Detail Report, then customize the account to the expense account/s you've set up for sales tax.
Here's how to run the report:
Select Custom Reports from the Reports tab.
Click on Transaction Detail.
Go to the Display column under the Modify Report: Custom Transaction Detail Report window.
Add the Account column under the Columns section.
Go to the Filters column, then click on Account.
Choose Multiple accounts, then add the expense accounts created for sales tax. Or, select the expense account you want to add.
Hit OK twice.
For additional reference about running and customizing reports in QuickBooks Desktop, check out this article: Understand reports.
Let me know if you have any other questions. I'm always here to help. Have a good day!
Huh, doesnt show invoice detail. This is still not all the info requested on my attachment. Maybe QB is not capable of getting all this pertinent info on one report ? Were you able to d/l the screenshot I attached ?