Thank you so much for this helpful video. When we are rounding for a sales tax adjustment, can you tell me how to set up the correct account for recording that sales tax adjustment (sales tax adjustment income or expense)?
Thank you for this video. I'm taking QBO distance learning. It's late and my instructor is not awake, so I'm trying to figure out why my sales tax is not populating before I send, yet another email. This has not been a fun class, but it's way better than Desktop version. I see in your instructions and in my textbook that I click on the "tax" button and it calculates and applies the tax. In mine program it doesn't calculate sales tax even though I setup the 8.25% CA sales tax in the beginning. I do not see where my error is. Do you have an idea as to why sales tax will not populate even after being set up and check box clicked? Thank you again for the video. Have a nice day ☺☺☺
I work with a company that sells motors. When we used the QuickBooks desktop version, we could set up sales by Dealers (exempt) and Out of State Sales (non taxable). For the life of me I cannot figure out how to set this up in QuickBooks online. The online version will not show me the Sales Tax Revenue Summary which I used when filling out the monthly and quarterly sales tax reports for the parish and state, it only shows the Sales Tax Liability. Is there a way to set up QuickBooks online so it somewhat matches the desktop version?
Hi. I am very confused.. we are a service provider, so if we buy a supply and pay taxes on that to the wholesaler do we charge taxes again to our customers or make it non-taxable?
If you are providing non-taxable services, then you would not charge sales tax for that. If you re-sell the items you buy from the wholesaler, then you would have to charge sales tax for those items. Also, if you buy and resell items, you should get a reseller certificate (it's free), so you don't have to pay sales tax to the wholesaler (but would still need to charge your customer). If you sell a service and part of the package you provide, let's say a journal, then you would have to pay sales tax when you buy it and as long as you don't itemize it on the invoice, you don't have to charge sales tax.
You will need to check with your tax authority. For example, in some states, digital goods are taxable, but in other states, they are not. Likewise for services (for example, haircuts). Here's additional QB tutorials if you need them -> ruclips.net/p/PLzj7TwUeMQ3jx0WD7KBgppu5wDOdsbTt6
We don't have something specific to that, but we have additional free QuickBooks training if you need it, including for QuickBooks 2022 and QB Online 👉 ruclips.net/p/PLzj7TwUeMQ3jx0WD7KBgppu5wDOdsbTt6
Download the free QuickBooks Online Shortcuts Sheet ► www.simonsezit.com/quickbooks-online-keyboard-shortcuts/
Thank you so much for this helpful video. When we are rounding for a sales tax adjustment, can you tell me how to set up the correct account for recording that sales tax adjustment (sales tax adjustment income or expense)?
helpful tutorial
could u show how to make sure your non tax actually shows on liability report
Thank you for this video. I'm taking QBO distance learning. It's late and my instructor is not awake, so I'm trying to figure out why my sales tax is not populating before I send, yet another email. This has not been a fun class, but it's way better than Desktop version.
I see in your instructions and in my textbook that I click on the "tax" button and it calculates and applies the tax. In mine program it doesn't calculate sales tax even though I setup the 8.25% CA sales tax in the beginning. I do not see where my error is. Do you have an idea as to why sales tax will not populate even after being set up and check box clicked?
Thank you again for the video. Have a nice day ☺☺☺
I work with a company that sells motors. When we used the QuickBooks desktop version, we could set up sales by Dealers (exempt) and Out of State Sales (non taxable). For the life of me I cannot figure out how to set this up in QuickBooks online. The online version will not show me the Sales Tax Revenue Summary which I used when filling out the monthly and quarterly sales tax reports for the parish and state, it only shows the Sales Tax Liability. Is there a way to set up QuickBooks online so it somewhat matches the desktop version?
What if your tax owed is less than what QB says? It doesn’t allow a negative adjustment.
What if it is a tax deducted from the principals and they are the ones who supply it to the tax
Hi. I am very confused.. we are a service provider, so if we buy a supply and pay taxes on that to the wholesaler do we charge taxes again to our customers or make it non-taxable?
If you are providing non-taxable services, then you would not charge sales tax for that. If you re-sell the items you buy from the wholesaler, then you would have to charge sales tax for those items. Also, if you buy and resell items, you should get a reseller certificate (it's free), so you don't have to pay sales tax to the wholesaler (but would still need to charge your customer). If you sell a service and part of the package you provide, let's say a journal, then you would have to pay sales tax when you buy it and as long as you don't itemize it on the invoice, you don't have to charge sales tax.
Awesome video but how do I know if my product or service is taxable
You will need to check with your tax authority. For example, in some states, digital goods are taxable, but in other states, they are not. Likewise for services (for example, haircuts). Here's additional QB tutorials if you need them -> ruclips.net/p/PLzj7TwUeMQ3jx0WD7KBgppu5wDOdsbTt6
Hi am interested in finding out how to record an advance payment made to suppliers on quickbooks online
We don't have something specific to that, but we have additional free QuickBooks training if you need it, including for QuickBooks 2022 and QB Online 👉 ruclips.net/p/PLzj7TwUeMQ3jx0WD7KBgppu5wDOdsbTt6