Sales Tax Payments

I am new to Quicken. I just paid my sales tax to the state. How and where do I post the discount that the state gives for paying early? It is only a few cents but I don't really want it sitting in my Sales Tax account.

Best Answer

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    Answer ✓
    Since you have a Sales Tax Account (I assume that means that you're collecting Sales Tax from business transactions), simply record a transfer in the Sales Tax account to your Business Income category or another place.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP

Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    Answer ✓
    Since you have a Sales Tax Account (I assume that means that you're collecting Sales Tax from business transactions), simply record a transfer in the Sales Tax account to your Business Income category or another place.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP