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Tax Liability Report inaccurate


I pulled my sales tax liability report. It is showing large negative numbers labeled multiple taxes. This is the first time I have seen this on my report. I know my numbers are not accurate. How do I track the mapping and fix the inaccuracies with my preferences. I am finding the sales tax features of QB to be very frustrating. Don't even get me started on Online QB.

3 Comments
QuickBooks Team

Re: Tax Liability Report inaccurate

Glad you've found your way to the Community, Hannah-M.

 

I want to bring some clarifications about the negative amount showing on your Sales Tax Liability report.

 

The multiple taxes showing on your Sales Tax Liability report are the Group Sales Tax. QuickBooks adds this line if you are using sales tax group items in your invoices.

These are showing negative because taxable sales amount is already listed as individual tax item to make your totals work out correctly.

 

Here's a helpful article for more insights about the Sales Tax Liability report in QuickBooks Desktop.

 

Drop me a comment below if you have any other questions about Sales Tax Liability report. 

Community Contributor *

Re: Tax Liability Report inaccurate

QuickBooks has a limit of 50 sales tax groups so it can no longer be used correctly for many businesses in Colorado that now must and pay sales tax to EACH different district/group. I now have to stop having businesses look into QB.

QuickBooks Team

Re: Tax Liability Report inaccurate

Hello ChristyYale,

 

Thank you for joining this thread here in the Community. I've already responded to your post regarding the sales tax group limit in QuickBooks Desktop.

 

Here's the link: https://quickbooks.intuit.com/community/Reports-and-accounting/Group-sales-tax-report/m-p/324422#M28....

 

Feel free to reach out to me whenever you need help with QuickBooks, such as the sales tax. The Community is always up to help.

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