cancel
Showing results for 
Search instead for 
Did you mean: 

Reply to message

View discussion in a popup

Replying to:
Level 1

How do I record sales taxes that is collected by online sales such as Amazon, eBay and Walmart, who will also pay on my behalf?

How do I record sales taxes that is collected by online sales such as Amazon, eBay and Walmart, who will also pay on my behalf? Since this paid BEFORE I get it as part of my deposit, I am not going to be paying this but I still have to record this. If I record it, I can't record a negative tax. What should I do? Currently, what I've been doing is to record my lump sum deposit per week as a sales receipt so I can deduct inventory based on what is paid/sold. I will enter all my fees as a negative amount so it will end with my deposit amount. However, Sales Tax is throwing me off. If I'm not wrong, amazon, ebay and walmart will collect and pay sales tax on my behalf for all states that collect including my own (IL) so I don't have to manually pay for it myself.

Need to get in touch?

Contact us