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Join nowHi all. Hope someone can help me understand this...I have bought manufacturing equipment for my coffee shop and my accountant told me that I am eligible for a sales tax exemption on this machinery. Can anyone tell me how to handle this in QBO? Thanks so much.
Solved! Go to Solution.
Welcome to the Community family, @mggee05.
I want to thank you for allowing QuickBooks to help you with your accounting needs. I'm your helping hand for today in getting this sales tax exemption concern taken care of.
You'll need to reach out to the store where you bought the manufacturing equipment so you can process the sales tax exemption of your purchase. This way, you'll be able to receive a refund for the tax that you've paid. In doing this, make sure to supply supporting documents for the exemption.
Once you received the refund, you can now create a vendor refund transaction in QBO. This will track the amount that you've got in the system.
To do that:
After that, you can now record the amount that you received so it will be deposited into your expense account.
Here's how:
To give you additional insights on this process you can always visit this reference: Learn how to record a refund from a vendor in QuickBooks Online.
I got you covered if you have any other questions about this, @mggee05. Feel free to leave a reply below. Have a lovely day!
Welcome to the Community family, @mggee05.
I want to thank you for allowing QuickBooks to help you with your accounting needs. I'm your helping hand for today in getting this sales tax exemption concern taken care of.
You'll need to reach out to the store where you bought the manufacturing equipment so you can process the sales tax exemption of your purchase. This way, you'll be able to receive a refund for the tax that you've paid. In doing this, make sure to supply supporting documents for the exemption.
Once you received the refund, you can now create a vendor refund transaction in QBO. This will track the amount that you've got in the system.
To do that:
After that, you can now record the amount that you received so it will be deposited into your expense account.
Here's how:
To give you additional insights on this process you can always visit this reference: Learn how to record a refund from a vendor in QuickBooks Online.
I got you covered if you have any other questions about this, @mggee05. Feel free to leave a reply below. Have a lovely day!