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Sales Tax Adjustments - QB Enterprise

Our company did a transfer from QB Online to QB Enterprise a couple of weeks ago.  I'm new to the company and I"m not quite sure why this number is incorrect, either the person before me wasn't processing things correctly or there was an issue with the transfer. 

 

Today I'm working on the Bank Reconciliations for February.  We paid $724.00 for Sales Taxes.  QB Enterprise says that the Sales Taxes due are $192.10.  I need to make an adjustment so that the correct amount paid is reflected.  I need to make an adjustment for $528.81.  How should I enter this adjustment?

 

I've reviewed this topic however I'm still confused as to if this is the correct way to do this because my situation seems to be a little different?  Any advice would be greatly appreciated.  https://quickbooks.intuit.com/community/Reports-and-accounting/Process-sales-tax-adjustment/m-p/2037...

 

Solved
Best answer 04-04-2019

Accepted Solutions
Moderator

Re: Sales Tax Adjustments - QB Enterprise

Welcome to the QuickBooks Community, CrissyB.

 

Thanks for elaborating the situation and giving such detailed information. I'm here to address your concern with adjusting the sales tax amount. 

 

Once you convert your Online (QBO) data to QuickBooks Desktop, all sales tax items or rates are exported as service items. Additionally, the sales tax information on your invoices isn't exported but will gain an additional line item representing the sales tax.

 

For more in-depth information on this, you can check out this article: Export limitations - QuickBooks Online to QuickBooks Desktop.

 

In your case, you'll need to check all sales tax amounts on each invoice for the month of February. Then, make a positive or negative adjustment outlined in this article: Process sales tax adjustment.

 

As always, I recommend reaching to an accountant for help adjusting your sales tax.

 

This should point you in the right direction. Keep me posted by leaving a comment below if you have further questions. I'll be around to help.

View solution in original post

1 Comment
Moderator

Re: Sales Tax Adjustments - QB Enterprise

Welcome to the QuickBooks Community, CrissyB.

 

Thanks for elaborating the situation and giving such detailed information. I'm here to address your concern with adjusting the sales tax amount. 

 

Once you convert your Online (QBO) data to QuickBooks Desktop, all sales tax items or rates are exported as service items. Additionally, the sales tax information on your invoices isn't exported but will gain an additional line item representing the sales tax.

 

For more in-depth information on this, you can check out this article: Export limitations - QuickBooks Online to QuickBooks Desktop.

 

In your case, you'll need to check all sales tax amounts on each invoice for the month of February. Then, make a positive or negative adjustment outlined in this article: Process sales tax adjustment.

 

As always, I recommend reaching to an accountant for help adjusting your sales tax.

 

This should point you in the right direction. Keep me posted by leaving a comment below if you have further questions. I'll be around to help.

View solution in original post

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