Keeping track of your sales taxes and payments is made possible in QuickBooks Online (QBO), Kristina. This is to prevent you from late returns and extra fees.
While we cannot e-file your VAT through QuickBooks, we can review what you owe to ensure we have the correct amounts before filing through your tax agency's website. Here's how:
- Go to the Taxes menu and select the Returns tab.
- Check which return is due this month, and tap Prepare Return.
- Click the Filing period and update the End Date or the Filing date.
- Review and make sure everything is correct. Then, take note of your gross sales, taxable sales, sales tax due, and adjustment amount if there's added. We'll need them when filling out your sales tax return form.
- Once done, click the Mark as filed. Then, Continue.
After that, let's start submitting this to the right agency by following Step 2: File your return with the right tax agency in this article. Then, proceed to Step 3: Record your sales tax payment in QuickBooks to keep your sales tax info in QuickBooks up to date: File your sales tax return and record sales tax payments in QuickBooks Online.
Moreover, we can run reports for your sales tax liabilities or make changes to recorded tax payments to apply adjustments if needed. Thorough guidelines are shared in this resource: Manage sales tax payments in QuickBooks Online.
Feel free to add a reply if you have additional questions about managing taxes. I always have your back. Stay safe!
