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userinfo109
Level 1

My accounting basis is accrual but tax generating in cash basis

 
1 Comment 1
DivinaMercy_N
Moderator

My accounting basis is accrual but tax generating in cash basis

The Community has got you covered, @userinfo109.

 

Let's configure your sales tax settings to determine if the reporting method is on an accrual basis. Here's how:

  1. Go to the Taxes menu.
  2. Then, click the Edit dropdown to edit your tax settings. tax0.PNG
  3. From the Reporting method section, check if it is set to Accrualtax1.PNG
  4. Click Save if you've made any changes. 
  5. Once done, check if your tax still shows as cash basis.

 

For your reference, please see this article: Set up and use tax in QuickBooks Online. 

 

Then, you can run the Sales Tax Liability report to see taxes you owe and as well as your tax info. For the detailed steps, please visit this article: Run the Sales Tax Liability report. 

 

You can always drop by if you have further concerns in managing your taxes in QBO. I'm always around to help. Have a good one.