How can I Record Tax Payment in QuickBooks?

For recording tax payments in QuickBooks, QuickBooks support can be of great help. When you collect sales tax from customers, in case you might want to regularly view the amounts of sales tax you are pending to give to tax agencies. QuickBooks can help you view a report about your sales tax liability in the sales tax center and you can also be recorded tax payments there. Sales Tax Center is the best place to record sales tax payments.

This is because all your recent payments are on a single page and you can view your sales tax owed by month, quarter, or a year while adjusting the period of which you need. You can also adjust your accounting basis which is either cash or accrual. Although the following steps would help you to easily record tax payments in QuickBooks, if you still face any difficulty post that, you call always call on QuickBooks Technical Support number 1-877-227-2303.

QuickBooks is one of the best accounting tools in the market that enables you to process your taxation related data with minimal ease. It not only streamlines the tax payments by recording it efficiently but also helps to prepare easily accessible and insight-rich reports.

For viewing the sales tax liability report,

  • Choose view report from “taxes” present in the left menu.
  • You will see a report displaying each agency, the taxable amount of sales, and the tax owed.

Now for recording tax payments, you need to Select Taxes from the left menu. After that select the tax agency for whom you are recording the transaction for in the Sales Tax Owed list. Now you have to choose the Record Tax Payment which is present at the bottom of the list. This step is followed by entering some specific information such as-

  • The bank account you’re making the payment from.
  • The payment date.
  • The ending date for the tax period.
  • The amount of the tax you’re paying.

For making any adjustment in the amount, you have to select “Make Adjustment” and enter the revised information regarding the adjustment. You can also make subsequent notes about the payment you want to make. If you do not need to print the sales tax check, select Record Tax Payment.

In case you wish to require for printing a cheque for the payment, check “Print a Cheque” and choose Record Payment and Print Cheque. This will send the cheque to your Print Cheques queue where you can then select the cheque and print it.

This brief QuickBooks support guide will help you to record tax payments in QB with ease. However, in case you encounter any user query or you just have any doubt regarding a particular step, feel free to reach out us at the QuickBooks technical support number 1-877-227-2303.

A team of highly experienced professionals with in-depth knowledge of accounting and finance principles is waiting to solve your problems promptly. For all taxations or non-taxations, related queries contact the QuickBooks support today.

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