Sales and Use Tax Reports - Work Around for Filing State Sales Taxes
sjtanner
Quicken Windows Subscription Member ✭✭
Being a small business, we have to file/pay Sales and Use Taxes to our State Dept of Revenue. The state requires a break down of Total Sales, Taxable Sales, Out-of-State Sales, Purchase Exempt Sales, Resale Exempt Sales, Non-Taxable Sales (these are the ones that pertain to us.) I can't fathom why but, QHB does not have a specific report to get this information. So, I've figured out what I think is a work around solution.
SET UP
Set up "Tax Account" for each one. I did this by bringing up Invoice and clicking on Tax Account Drop Down. Under the Business section is Project/Job List. For each Customer I set up a Project. For example: Cash Sales account or any customer that I charge tax I set up a project KY (Ky Sales Tax),our Ebay Customer account I set up a project OUT (for out of state sales), church and non-profit accounts have a project PUR (purchase exempt), customers with resales exemptions have project RES etc... EVERY INVOICE you enter must have a Project/Job entered in order for the report to have the correct information. Since I haven't figured out how to set up customers as either taxable or exempt and the tax rate, remember on every invoice that is out of state or exempt to change the tax rate to 0% and the Tax Account by choosing the correct one from the drop down.
REPORTS
I've customized 2 reports that will get the information needed to file your state sales tax.
1) Under the Banking Section choose Transaction. Customize this by changing the Subtotal by: Payee, Sort by: Date/Account, Show Splits: check mark. Under the Accounts tab, Choose Selected Accounts - Clear All - Scroll to the bottom and ONLY choose your Sales Tax liability account (for me KY Sales Tax). Under the Payees tab, Uncheck who you write your Tax Payment to (for me Ky Dept of Revenue). Run Report.
This report will show you the Sales Tax you collected and owe.
2) Under the Business Section choose Projects/Job by Project. Customize this by changing clicking on the Accounts tab and choose ONLY Account Receivable. Run Report.
This report will show your sales by each Project/Job.
SET UP
Set up "Tax Account" for each one. I did this by bringing up Invoice and clicking on Tax Account Drop Down. Under the Business section is Project/Job List. For each Customer I set up a Project. For example: Cash Sales account or any customer that I charge tax I set up a project KY (Ky Sales Tax),our Ebay Customer account I set up a project OUT (for out of state sales), church and non-profit accounts have a project PUR (purchase exempt), customers with resales exemptions have project RES etc... EVERY INVOICE you enter must have a Project/Job entered in order for the report to have the correct information. Since I haven't figured out how to set up customers as either taxable or exempt and the tax rate, remember on every invoice that is out of state or exempt to change the tax rate to 0% and the Tax Account by choosing the correct one from the drop down.
REPORTS
I've customized 2 reports that will get the information needed to file your state sales tax.
1) Under the Banking Section choose Transaction. Customize this by changing the Subtotal by: Payee, Sort by: Date/Account, Show Splits: check mark. Under the Accounts tab, Choose Selected Accounts - Clear All - Scroll to the bottom and ONLY choose your Sales Tax liability account (for me KY Sales Tax). Under the Payees tab, Uncheck who you write your Tax Payment to (for me Ky Dept of Revenue). Run Report.
This report will show you the Sales Tax you collected and owe.
2) Under the Business Section choose Projects/Job by Project. Customize this by changing clicking on the Accounts tab and choose ONLY Account Receivable. Run Report.
This report will show your sales by each Project/Job.
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