Summary
In this chapter, we have discussed the importance of setting up sales tax in QuickBooks so it can automatically calculate sales tax for you. We have shown you how to create an invoice and include sales tax and we have covered the key reports available to help you stay on top of your sales tax liability. Since you cannot make sales tax payments in QuickBooks, we have also included a video that explains how to make your sales tax payments outside of QuickBooks. It’s important to make sure you set up sales tax and use the correct sales tax rate. This will help you to avoid penalties or fees for under-reporting and underpaying sales tax to your state tax office. In the next chapter, we will cover how to record invoices and sales receipts in QuickBooks Online.
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