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Level 1

IN: journal entries for tax adjustment

please give the examples of the journal entries to be passed while recording tax payment

Solved
Best answer September 26, 2019

Best Answers
QuickBooks Team

IN: journal entries for tax adjustment

Dear iamtestpass.qbou,

When you click on "Tax Adjustment" hyperlink Journal Entry page opens automatically. However, please find the below example for Journal Entry for "Tax Adjustment".

Output SGST A/C                        Dr

Output CGST A/C                        Dr

Output IGST A/c                          Dr

Input SGST A/C                                         Cr

Input CGST A/C                                         Cr

Input IGST A/c                                           Cr

CGST Payable A/c                                    Cr

SGST Payable A/C                                   Cr

IGST Payable A/C                                     Cr

Hope this helps.

Please call on our helpline number, in case if you need any assistance.

https://help.quickbooks.intuit.com/en_IN/contact

View solution in original post

3 Comments
QuickBooks Team

IN: journal entries for tax adjustment

Dear iamtestpass.qbou,

When you click on "Tax Adjustment" hyperlink Journal Entry page opens automatically. However, please find the below example for Journal Entry for "Tax Adjustment".

Output SGST A/C                        Dr

Output CGST A/C                        Dr

Output IGST A/c                          Dr

Input SGST A/C                                         Cr

Input CGST A/C                                         Cr

Input IGST A/c                                           Cr

CGST Payable A/c                                    Cr

SGST Payable A/C                                   Cr

IGST Payable A/C                                     Cr

Hope this helps.

Please call on our helpline number, in case if you need any assistance.

https://help.quickbooks.intuit.com/en_IN/contact

View solution in original post

Level 1

IN: journal entries for tax adjustment

How to make payment entries of the liability created?

Moderator

IN: journal entries for tax adjustment

Hi there, Ultrasafe.

 

Looks like you've posted this question twice in the system. Let me route you to the duplicate post where my colleague have already share an answer. This link will route you to the said post.

 

Come an visit us again if yo u have other questions. I'd be more than happy to help. Have a good one.