Sales Tax Adjustment
When you make sales tax adjustments, you move money into or out of
your Sales Tax Liability account.
You adjust your sales tax liability for reasons like:
- A credit for previous over payment or early payment discount given by your sales tax agency.
- A fine charged to you by your tax agency for late or non-payment in the previous tax year.
- Corrections to sales in a previous period.
- Rounding differences between QuickBooks and your sales tax forms.
- Sales tax holiday declared by your agency.
To make a Sales Tax Adjustment:
- From ZarMoney homepage, hover over Company and from the drop down menu select Sales Taxes.
- Select Sales Tax Adjustment. Make any necessary adjustments and after all changes have been made, select Adjust Taxes.