would you like to know what happens in quickbooks online when you easily record a sales tax payment
well then stay tuned to this video where we will learn how to record paying sales tax
if you have any questions about this topic you can leave them in the comments section
below and i'll do my best to help you and of course if you feel the video helped you
i hope you will click like and don't forget to subscribe to get updates on new videos
that come out all the time paying sales tax in quickbooks online also only takes several seconds
you must record the payment from the sales tax center if you want the sales tax center
to reflect the fact that that particular tax period has been paid
you must pay for a specific sales tax period at the moment that you're paying sales tax
and the payment will be recorded like any other transaction that you would record in
quickbooks online the payment will affect the reports in quickbooks online the same way that
any other payment in any other situation would affect the quickbooks online reports
quickbooks online assumes that you are filing a return with the sales tax payment quickbooks
online assumes that the payment was physically sent at the moment you record the payment
for example let's imagine on november 17th we paid the overdue amount of 12.50 from the sales
tax period july 1 to september 30. now if we do that what will be the result well in the sales tax
center the overdue amount of 1250 that you see here will disappear and show up instead at the
very top in the section of paid taxes don't forget to set the date range wide enough so that you can
see how it moves from one section to the other and what will be the result in the trial balance after
recording the sales tax payment well the sales tax that we owe will decrease because we paid some
and the amount that's indicated owed after that will decrease to 62.50 also because we're paying
cash in bank decreases by the amount we're paying and because we're paying 1250 and cash in the bank
has a zero balance cash in the bank will show up in the trial balance for the first time
as a negative twelve dollars and fifty cents let's take a look at how to record this
the way to record paying sales tax is to open the sales tax center and make the date range
wide enough to see the sales tax period that you're paying for so if you only keep at the
current month you won't see anything overdue but because we know if we make the date going back
to september and click refresh we know that the prior periods tax return and tax payment was due
back on october 20. so the way that we pay this is first to click view return now of course this is
just a summary of everything that would normally go on the tax form that you would have to send
to your state tax department when you send in your tax payments all it does is show you the
relevant summary information and all you have to do to record a payment is to click record payment
now you have to tell quickbooks the payment date and we said in our example it would be november
17th and you have to tell quickbooks which bank account the payment is being paid from
and because we only have one bank type of account on the list we click here and click record payment
now we can close out this window or we can just click back to sales tax center
now notice the uh payment of 1250 or the amount of 12.50 has now moved
from the overdue section of the sales tax center to the paid section of the sales tax center for
the 12.50 and the only thing upcoming is the 62.50 here that you see is a different sales tax period
not payable yet and the grand finale is to check the trial balance
we click reports and double-click trial balance and you can see that the massachusetts tax
department the account in the trial balance that represents what we owe has decreased to 62.50
if we double click you can scroll across and you can see that we originally owed seventy five
dollars before this payment and this payment is recorded on the last line see we had these sales
that accumulated the sales tax and then this last sales tax payment the last transaction
on the bottom decreases by the amount we paid and the remaining amount we owed is 62 and 50 cents
you