This was my question to my accountant and her answer:
How am I sure that QB keeps track of the sales tax so when I file Sales & use tax it’s easy for me, in other words how do I input that in quickbooks (separate out the deposit)? (where would I find that info next year?)
accountant answer: The $7.22 of sales tax would be recorded as a sales tax liability. Then when the sales tax is paid, the liability account is zeroed out.
My question is how do I "record as a sales tax liability?" Please include the steps for how to set up the account and also how to document the sales tax in that account.
Thank you!
Solved! Go to Solution.