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- Open your business bills account or checking account (Chequing in Canada) account (or whatever account you use to pay your business expenses).
Enter a transaction to pay your sales tax.
Info title Tell me more - In the Num field, select Transfer in the list.
- In the Payee field, enter the name of the tax agency, such as State Board of Equalization.
- In the Xfer Account field, select the correct sales tax account you want to transfer the payment to.
If you track different tax rates but pay your sales tax to one tax agency, record the transfers to multiple accounts using a split transaction. Click Split, and then, for every sales tax account used, add a line with the name of the account and the amount of tax paid. Click OK.
- Click Save to record this transaction.
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- In your check register or the Write Checks dialog, select the transaction that contains the transfer information.
- From within the transaction, click the Edit button, and then choose Transaction > Go To Matching Transfer. You can also use CTRL+SHIFT+X. The register for the sales tax account appears.
What if I used a split transaction to pay multiple tax rates with one payment?
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The following terms will be different in the Canadian releases of Quicken. Canada: "Cheque" / United States: "Check" |
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