Setting up Sales Tax

 

If your are setting up a company or a business, you may start by setting up taxes and tax rates. In QuickBooks, you may have to review the different concepts on how to set tax rates on your sales.

Assuming that you have read these concepts, start by going to Sales Tax Preference window in QuickBooks, click on the Most Common Sales Tax button and choose Add New.

The New Item window will open, and in the Type portion choose Sales Tax Item from the list. Enter a Sales tax name and description as to how this sales tax item will appear as a line item on your sales forms. Then enter your sales tax rate. Once you enter the the rate here, this is the rate you charge when your sale is taxable.

Go to the Tax Agency drop down list and select Add new. A New Vendor window will appear and you can enter the name of your tax agency on the Vendor Name field. Click OK to close the New Vendor window, click OK again to close the New Item window. You may repeat the whole process to set the tax item you need to set up for each of your transaction.

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