QuickBooks for Mac 2014 User’s Guide 198
o If you usually tax the customer, but don't want to for this particular sale, clear the Tax checkbox at the
bottom of the sales form, but leave the correct sales tax. QuickBooks then records the sale as a non-taxable
sale for the tax district.
• To sell to an out of state customer, choose the special “Out of state, 0.00% tax rate” item as the tax for the
sale. QuickBooks then records the sale as non-taxable, out of state, so you can report it when you pay taxes.
• If you use a tax group, QuickBooks calculates each tax in the group individually and then adds the individual
taxes together to get the total tax. Because QuickBooks rounds the individual tax amounts to the nearest cent,
the total for tax group may be slightly different than the total you would get if you combined the rates of the
individual taxes and applied the single rate to the sale. Don't worry about this discrepancy; QuickBooks
calculates and reports each individual tax amount correctly.
Keeping track of how much tax you owe
QuickBooks provides three ways to find out how much tax liability you are accruing: the sales tax liability report,
the Sales Tax Payable register, and the Pay Sales Tax window.
• Sales tax liability report—See a summary of how much you have billed (or collected) on behalf of each sales tax
agency.
• Sales Tax Payable register—Scan the tax-related transactions QuickBooks has recorded in your Sales Tax
Payable register.
• Pay Sales Tax window—See how much you owe each tax agency. Pay the sales tax your business owes.
Creating a sales tax liability report
The sales tax liability report provides complete information about the sales tax your company owes for a particular
period.
QuickBooks displays your sales tax liability in reports on an accrual basis unless you changed the setting (see
below).
To display the report:
1 Choose Reports > Vendors & Payables > Sales Tax Liability.
2 Check the dates shown in the From and To fields. If you want the report to cover a different period of
time, do one of the following:
o
Enter new dates in the From and To fields.
o
Choose one of the preset date ranges from the list.
To change the accounting basis of the report:
1 Choose QuickBooks > Preferences and click Sales Tax.
2 In Sales Tax Accrues, select the basis you want.
o
Select As of invoice date to get an accrual-basis report
o
Select Upon receipt of payment to get a cash-basis report
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