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MKT22191
Level 3

QBO tax center adjustment - how to lower the total

Hello QB community!  

 

QBO online calculates the tax amount higher than the amount actually to be paid due to rounding error, so I wanted to adjust it.  However, it appears that I can only use it to "add" not "subtract."  I tried to use negative number in the "amount" under "Add an Adjustment," but I got an error saying it has to be a positive number.   

 

Is there a way to use the adjustment to subtract the number?  Also what account should I use for the adjustment?

 

Thank you! 

5 Comments 5
Rustler
Level 15

QBO tax center adjustment - how to lower the total

double check the adjustment page, you should be able to select increase or decrease when entering an adjustment

MKT22191
Level 3

QBO tax center adjustment - how to lower the total

Thank you, @Rustler 

 

I will look it again when my QBO starts working.  I have been having errors continuously on sale tax center. (I just created another post in the QB community.)

MKT22191
Level 3

QBO tax center adjustment - how to lower the total

Hello @Rustler 

 

My QBO is up and running now.  From the left side pane, I chose "taxes" -> select "view tax return" that I want to work -> select "+add an adjustment."  On the "Add an adjustment" page, I still cannot add any negative number in the amount. 

 

Would you think of any reason?

 

Thank you again!  

hawkeye grace
Level 2

QBO tax center adjustment - how to lower the total

I'm having this same problem! I need to decrease it by $.01 due to rounding errors, but it will only let me add a positive number!

hawkeye grace
Level 2

QBO tax center adjustment - how to lower the total

The only way I was able to get around it was by creating an Income Account that I named "Sales & Tax Adjustment Account (CREDIT)" and selected "credit" in the dropdown instead of the rounding errors option. I have a separate "Sales & Tax Adjustment" expense account for rounding errors when I have needed to add in the past, but I had to create this separate one for credits.

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