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jshores
Level 1

How to record daily sales with Sales Tax and Tips enabled?

Really struggling with this and could use some guidance. We have a POS system that produces a cash basis export each day. I take that and enter it as a sales receipt using the daily sales method described everywhere. I do not enter sales tax or tips as a product, because I have automated sales tax and tips enabled. My receipts never $0 out.

I have not found ANY examples of how to enter a sales receipt when sales tax and tips are enabled. So I'm wondering if I need to turn those features off so I can use a product for sales tax and tips instead. If so, what happens to the automated tax filings?

Any help would be appreciated at this point. My head is sore from banging against the wall...
1 Comment 1
RCV
QuickBooks Team
QuickBooks Team

How to record daily sales with Sales Tax and Tips enabled?

I've got you covered on how to record daily sales in QuickBooks Online (QBO), Jshores.

 

Since you already enabled sales tax and tips in QBO, we can record a sales receipt for a customer who adds a tip to their payment. Here's how:

 

  1. Click the + New Plus icon. 
  2. Select Sales Receipt.
  3. Enter the tip value. This can be found in the totals/subtotals and isn’t affected by tax or discounts.

 

If you need to update the tips account which is the same as your daily sales accounts, we can follow the steps below:

 

  1. Go to the Gear icon on the top menu and select Account and settings.
  2. Click the Advanced tab.
  3. In Chart of accounts, select Edit .
  4. Choose the account you want for the Tips account.

 

To learn more about adding tips to your payment forms, check out this article: Turn tips on or off for sales forms in QuickBooks Online. If you need to record your total daily sales in the program using a single sales receipt, follow the steps in this article: Record your total daily sales in QuickBooks Online

 

Once you've marked your sales as taxable, QBO will calculate taxes depending on the rate or location selected automatically. When recording your total daily sales income, check the Tax column so it will accumulate the total sales tax for the day. The tax returns will appear under the Sales Tax tab in the Taxes menu.

 

sales.pngsales1.PNGsales2.png

 

Additionally, you might want to run the Sales by Product/Services Detail report to view the total sales: Run Reports.

 

I'm only a few clicks away if you should have questions about managing your daily sales or anything else in QBO. You have a good one.

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