Hello,
I'm an annual filler of sales tax in NYC. I file a form ST-101 once a year in March. Normally when I purchase supplies in NY I receive an invoice with sales tax included, but sometimes I purchase supplies out of state and some out of state suppliers do not charge me the NY sales tax. According to the NY tax law, I have to report these purchases and pay sales tax myself directly to the NYS Tax department (purchases subject to tax) when i file my sales tax return. Normally, Quickbooks would add tax to taxable sales and it would sit on my Sales Tax Payable account until time comes to pay the tax. My question is, whats the best way to apply the sales tax when the vendor sends me an invoice and doesn't charge me the NYS sales tax? Please remember that I'm an annual payer, so the sales tax would hang on my Liability Account for almost a year. Should I create a new liability account and manually change the vendor's invoice and add the sales tax to the out of state purchases or maybe there is a better way?
I'm using QuickBooks pro 2016
Thank you,
