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Level 2

Tax agency and sales tax

Hi 

I am a QBO user from Pakistan. We recently purchased QBO international and stuck with some tax related issues. I tried many times, read relevant stuff on internet and watched a a lot of QBO support and other QBO experts videos but all in vain 

Problem context:

We have one Federal, and 4 provincial tax agencies. Our company is providing services in all provinces, so we have to book sales tax payable, to each tax agency, collected on sales and purchase transactions. I have following questions
1. Right now I can't create more than one tax agency in QBO, So how to create More than one tax agency? (We are using QBO international version)
2. QBO assigns only one Liability account to sales tax payable. So how to track that how much tax is payable to which tax agency?  (Tax agencies balances)
3. Tax agencies are similar to vendors so like we have vendors payable we have taxes payable too and we need to make payments to tax agencies as well. In case of vendor it is simple to pay. Like you can create a bill and make payment to that vendor through "pay bills" window. But I am unable find the way to pay the tax agencies and track their balances.  

Any help would be highly appreciated.

Best Regards 
Rashid

Solved
Best answer 09-30-2019

Best Answers
Highlighted
Moderator

Tax agency and sales tax

Good day, Rashid1.

 

I can guide you through on where to add multiple agencies in QuickBooks Online (QBO). You can simply follow these steps:

 

  1. From the left pane, click on the Taxes tab.
  2. Select the Add tax button at the upper-right.
  3. Select Custom tax.
  4. Enter the necessary information.
  5. Click Save.

On the other hand, you can track your tax payable by pulling up the Tax Liability report. This shows how much the tax owed to each agency.

 

To learn more about sales tax, here's a guide: Sales tax in QuickBooks Online

 

I'll be right here if you need more help.

View solution in original post

2 Comments
Highlighted
Moderator

Tax agency and sales tax

Good day, Rashid1.

 

I can guide you through on where to add multiple agencies in QuickBooks Online (QBO). You can simply follow these steps:

 

  1. From the left pane, click on the Taxes tab.
  2. Select the Add tax button at the upper-right.
  3. Select Custom tax.
  4. Enter the necessary information.
  5. Click Save.

On the other hand, you can track your tax payable by pulling up the Tax Liability report. This shows how much the tax owed to each agency.

 

To learn more about sales tax, here's a guide: Sales tax in QuickBooks Online

 

I'll be right here if you need more help.

View solution in original post

Highlighted
Level 2

Tax agency and sales tax

Thanks Glinette You solved my problem. Thanks a lot man. I am very grateful to you for your help


@GlinetteC wrote:

Good day, Rashid1.

 

I can guide you on where to add multiple agencies in QuickBooks. Here are the steps:

  1. From the left pane, click on Taxes tab.
  2. Select the Add tax button at the upper-right.
  3. Select Custom tax.
  4. Enter necessary information.
  5. Click Save.

To track your tax payable, you  can pull up the Tax Liability report. This shows how much the tax owed to each agencies.

 

To learn more about sales tax, here's a guide: Sales tax in QuickBooks Online

 

I'll be right here if you need more help.