Sunday, February 28, 2016

Working with Sales Tax

Sales tax can be complicated, particularly in states where the number of tax authorities has exploded. You might have to pay sales taxes to several agencies, each with its own rules about when and how much. QuickBooks’ sales tax
features can’t eliminate this drudgery, but they can help you pay the right tax authorities the right amounts at the right time—and that’s
something to be thankful for.
QuickBooks can help you track sales tax based on customers’ locations and salestax-paying status. The program can also keep track of non-taxable sales. This chapter shows you how to set up the program to handle all these tasks.

Once the sales tax setup is done, QuickBooks takes over and calculates the sales taxes due on invoices and sales receipts you create. However, after you collect sales taxes from your customers, you need to send those funds to the appropriate tax agencies. In this chapter, you’ll learn how to remit sales taxes to the right organizations on the schedules they require.

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