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RobShel
Level 1

Sales Tax Liability Report - Tax Owed does not equal (Taxable amount * %Sales Tax Rate)

My Sales Tax Liability Report has three columns... Tax Agency Name (Rate%), Taxable Amount, and Tax Owed.

First line of attached doc... If you mulitply:  .045 * $2,142 = $96.39 in sales tax due.  But QBO shows $71.54 due.

There are multiple lines where this happens and I'm not sure why.  

What do you all think is happening?

1 Comment
Pete_Mc
Community Champion

Sales Tax Liability Report - Tax Owed does not equal (Taxable amount * %Sales Tax Rate)

Are you on an Accrual or a Cash Basis? 

 

I ran across another post where @Rustler  pointed out the numbers may not be correct if the report is not set to the same basis.

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