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Sales Tax Tracking

Hello everyone

I run quicken 2015 Home & Office but I don't use invoices or such.
I basically only use it to track my expenses and sales tax.

I have a POS system that does my invoices and manages my income.

For this reason I have not upgraded and I am wondering if the basic version subscription would allow me to track expenses and sales tax (HST) as in total taxes on expenses.

I need to track HST in and HST out so I can file quarterly.

What level do I need to go to for expense and sales tax tracking?

Answers

  • FrankxFrankx SuperUser ✭✭✭✭✭
    Hi @KamWest,

    The answer to your question is going to depend (at least partly) on how the data (HST in and HST out) gets into Quicken.  Do you download either or both of these taxes into Quicken, or are the entries made manually into Quicken?

    Also, you mention that you "track expenses" in Quicken - are any of these downloaded into Quicken?

    Frankx


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  • KamWestKamWest Member
    Right now I have Quicken Home & Office 2015 and I tracked my expenses using vendors and it tracks the HST for me on my expenses. Then I make 1 invoice per month and take my income from my POS system and add the Income and HST on it. At the end quicken lets me know what I have to pay in HST.

    So I need to import my 2015 Quicken into the current subscription version but I only use basic functions and would prefer to use only the basic quicken version since all I use it for is to track my expenses.

    That said tracking the HST is important but I am wondering if I can do that in the basic version.
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