Sales tax reports
QuickBooks makes it easy to stay on top of the sales tax collected, which will ensure that you pay the correct amount when it comes due. There are two reports available to help you stay on top of the sales tax you owe: a tax liability report and a taxable customer report.
Within the Sales Tax Center, click on the Reports link to access the sales tax reports, as indicated in Figure 6.13:
Figure 6.13: Sales tax reports
- Tax liability report: This report will show you the sales tax collected as of a specific period of time. The report will show gross sales, taxable sales, non-taxable sales, and the tax amount.
In the report shown below, there are four columns: GROSS TOTAL, NON-TAXABLE, TAXABLE AMOUNT, and TAX AMOUNT. The gross total amount is $150.00, the non-taxable amount is $0, the taxable amount is $150.00, and the total tax amount is $12.38:
Figure 6.14: Sales tax liability report
- Taxable customer report: This...