Adjusting sales tax
To adjust your sales tax before you pay it:
- Choose Vendors > Pay Sales Tax.
Take a look at the amount of sales tax you owe. Do you need to adjust it—say if your tax authority has given you a discount for on-time payments?
- Click Adjust.
- Fill out the Sales Tax Adjustment info. Here's what's required:
- Set a date for this adjustment.
- Choose the Sales Tax Vendor you're paying. (Probably your local or state sales tax authority.)
- Choose the Adjustment Account. (QuickBooks will record this adjustment here.)
- Choose whether this is an Increase or a Decrease, and enter the amount of the adjustment you're making.
- Click OK.
QuickBooks records this adjustment and closes the Sales Tax Adjustment window. Now you're ready to pay your sales tax.