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Caesar803
Level 1

Sales Tax collected and Sales Tax payable

When I run my sales tax liability report, the amount under sales tax payable is not correct.  Also the column for tax collected doesn't have any amount but I know we had sales tax transactions for last month.  We use Taxify for our sales tax calculation.  I have verified that the report basis is accrual and he dates are correct.  Any suggestions would be appreciated.

1 Comment 1
Angelyn_T
QuickBooks Team

Sales Tax collected and Sales Tax payable

Glad to have you here in the Community, @Caesar803.

 

I'm here to help share information about running the Sales Tax Liability Report in QuickBooks Desktop (QBDT).

 

The Sales Tax Liability Report shows a summary of sales tax you've collected and owe to your tax agencies. The tax collected is the total taxable sales multiplied by tax rate. On the other hand, Sales Tax Payable is the total tax collected minus the payment you've made within the date range selected for the report. It includes the payments made so it won't always match with the total Tax Collected.

 

To verify this further, you may need to check the rate of the sales tax items and the transactions if it is taxable or not. If it's not taxable, it won't reflect on the report.

 

To learn more, you can check this article: Review sales tax reports.

 

Please know that I'll be right here to help you if you have any other questions about sales tax reports in QBDT. Wishing you continued success!

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