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Sales Tax Levy

Hello,

 

I had a 3qt 2018 sales tax not paid in full. State did tax levy. How do i handle showing the amount of money applied to sales tax, penalties, interest and collection fee. 

Solved
Best answer November 20, 2019

Best Answers
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QuickBooks Team

Sales Tax Levy

Hi there, @bluedz.

 

You can create an expense transaction to record sales tax, penalties, interest, and collection fee.

 

However, to help you decide on what account to use when tracking these entries, I recommend consulting your accountant. They'll be able to provide you with the best course of action for your business.

 

To create a an expense:

  1. Hit on Banking at the top menu bar.
  2. Choose Write Checks.
  3. Enter the information needed.
  4. Make sure to select the Expenses tab and enter the amount.
  5. Click Save & Close.

For in-depth information, please refer to this article: Create, modify, and print checks

 

I'm here to help if you have other questions about QuickBooks. Just let me know by leaving a reply below. Have a good one!

View solution in original post

2 Comments
Highlighted
QuickBooks Team

Sales Tax Levy

Hi there, @bluedz.

 

You can create an expense transaction to record sales tax, penalties, interest, and collection fee.

 

However, to help you decide on what account to use when tracking these entries, I recommend consulting your accountant. They'll be able to provide you with the best course of action for your business.

 

To create a an expense:

  1. Hit on Banking at the top menu bar.
  2. Choose Write Checks.
  3. Enter the information needed.
  4. Make sure to select the Expenses tab and enter the amount.
  5. Click Save & Close.

For in-depth information, please refer to this article: Create, modify, and print checks

 

I'm here to help if you have other questions about QuickBooks. Just let me know by leaving a reply below. Have a good one!

View solution in original post

Highlighted
Level 1

Sales Tax Levy

Betty JaneB,

 

Thank you for taking the time to answer my question. Just wanted to say i appreciate your time an effort to help.

 

Have a Blessed Day

 

Bluedz

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