Search Again: QuickBooks & Sales Tax From: Don Brown Date: Thursday, October 5, 2000 Time: 5:45:05 pm We're passing this along FWIW to anyone who is using QuickBooks to pay sales tax to the state on a cash basis (you pay the state, when you are paid the sales tax). If you show a discount on your invoice, but charge that discount to the original revenue account or any other revenue account, then you are probably paying more sales tax than you owe. For instance, if your invoice shows a charge to "hosting" and then you also use "hosting" to show a negative amount (a discount), the sales tax liability report will show that you owe more sales tax than is actually due. In order for the sales tax liability report to be accurate, you must use a QuickBooks "discount" line item for the discount amount on the invoice. I know it doesn't make any sense, particularly when you can see the appropriate sales tax calculation on the invoice -- but, that's the way it works. We fell upon it today and spent time on the telephone with Intuit Tech support. We have verified with them and through our own tests, that this is true. Thanks, ---- Don Brown - Dallas, Texas USA Internet Concepts, Inc. donbrown@inetconcepts.net http://www.inetconcepts.net PGP Key ID: 04C99A55 (972) 788-2364 Fax: (972) 788-5049 Providing Internet Solutions Worldwide - An eDataWeb Affiliate ---- ------------------------------------------ To subscribe, unsubscribe and list archive please visit http://www.optigold.com/lists ------------------------------------------

Messages In This Thread: QuickBooks & Sales Tax by Don Brown on Oct 5, 2000 at 5:45:05 pm