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How to set up sales tax in QuickBooks

December 4, 2018 by quickbook support  

The ‘Sales tax’ feature in QuickBooks manages all your sales tax tasks. It was designed for the purpose of collecting, reporting and paying your sales tax. It also does the job of creating or accessing sales report, add sales tax rate, record tax payments to tax agencies etc. It is a very essential feature in QuickBooks as it does not require any manual work which makes the job of the accountant or business owner much easier. Being in the business world, the collection of taxes for goods and services becomes certain and to ensure accurate calculation and report of such taxes, the ‘sales tax’ feature in QuickBooks comes in handy. And to carry this out, you are required to set up Sales tax before carrying out any tasks. If you want to know how you can set up sales tax in QuickBooks, then keep reading this blog or you can take help from the team at QuickBooks customer care number.

Before you can carry out any sales tax work, you need to make sure that you have checked the tax rates and requirement with your tax agency. Now, to proceed with the setup process, simply follow the steps mentioned below:

ØOn your QuickBooks screen, go to ‘edit’ then select ‘preferences’ from this option.

ØWhen you see the preference page, click on ‘sales tax’ and go to the ‘company preference’ tab.

ØAnd now, to turn on sales tax, select ‘yes’ and set up the sales tax item or the sales tax group for each country or region where you collect sales tax.

ØAnd to do that, you must click on ‘add sales tax item’. And to add a sales tax item, click on ‘sales tax item’ and fill out the fields provided with the required information and to save this, click on ‘ok’.

ØIf you are looking to edit an existing sales tax item, go to the ‘list’ menu and select ‘item list’ from there.

ØFind the item you need to update or make changes to and edit it by clicking the right button and selecting ‘edit item’.

ØMake the necessary updates or changes and click ‘ok’.

These are the steps you need to perform to set up sales tax in QuickBooks. For any additional service or help, you can contact QuickBooks tech support which is available to the customers throughout the day.

 

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