sales tax

What Happens If You Make the Default Tax Account Inactive?

I should point out that this article has to do with the Canadian users of QuickBooks, so it may not be relevant to anyone else, hey! In working with a client the other day, I discovered that they had decided to add two accounts for their GST/HST Payable. One was for the HST paid and the other for the HST collected. To do this they made the QuickBooks default GST/HST Payable Inactive as...

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QuickBooks Quik Tip on Sales Tax Problems

If you are a company that has not been entering in the correct Sales Tax information into QuickBooks, to do with your Sales Tax codes, names and Tax Items, chances are you have created a number of  unassigned Sales Tax Amounts. Why should you be concerned? Well, if you proceed to use the Files Sales Tax feature in QuickBooks, you will receive the error message as displayed on the left. This...

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How to Correctly Record Your Sales Tax Installment Payments

It’s not uncommon for Non-Profits, Charities or For Profit companies to make HST Sales Tax Installments. There are many reasons for this and one may be that the Non-Profit or Charities organization, has only registered to file annually or that it’s sales base is below the CRA threshold. The second may be that the annual filer does not want to face an unexpected amount at the due...

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QuickBooks Bank Account Registers and their Use

All the accounts that you set up in QuickBooks have a register behind the scenes. There are a couple of ways you can view this register, one would be to go to the Menu Bar, highlight Lists/Charts of Accounts and double click on it. The other way is from your Home page and in the Banking module select Cheque Register.  From the screen shot to the left, this displays that method where you can...

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QuickBooks 2010 is Unable to Load all Tax Configuration

This is an excerpt from Intuit Canada. Some QuickBooks 2010 users might get the following error message when accessing the HST Setup Tool: “Could not load all the tax configuration. One tax item, account, agency or code may already present in the company file” Why is this happening? This error message is an indication that QuickBooks is unable to decipher your current tax...

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