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missmissySEI
Level 4

Sales Tax Adjustment

I am cleaning up my Sales Tax Liability report from a previous owner.  Unfortunately, she did not pay the sales tax through the pay sales tax feature in the beginning.  So now when I run my report my "Tax Collected" column is correct but the "Sales Tax Payable As Of" column is wrong because it includes past transactions that have been paid (years ago 1995).  I would like to clean it up but I'm not sure what account to make the adjustments to.  

1 Comment 1
Clark_B
QuickBooks Team

Sales Tax Adjustment

Hello there, @missmissySEI.

 

I'd be glad to help and provide information on what account you should select when making the adjustments for your sales tax in QuickBooks Desktop (QBDT).

 

To ensure accurate bookkeeping and sales tax reports, I recommend to not using the Write Checks or Pay Bills windows to pay for your sales tax to avoid errors. Also, In regards to what account type you should select to make the adjustments will depend. If you want to decrease your sales tax due, you should set up an income account. On the other hand, if you need to increase your sales tax due, set up an expense account. However, I suggest to consult your accountant when performing adjustments to ensure the accuracy.

 

I'll add this article to guide you in customizing the data, adding or deleting columns, adding or removing information on the header/footer, and even personalizing the font and style of the report: Customize reports in QBDT.

 

Let me know If you have additional questions about sales tax adjustment. I'll be here to further assist you.

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