QuickBooks is popular accounting software, thanks to its incredible
features and functions. There are mainly two versions of the program-
QuickBooks Desktop and QuickBooks Online. You can manage sales tax in
QuickBooks online and edit the tax rates using simple steps. The Sales
tax in Quickbooks online can vary (increase or decrease) depending on the
state where you run your business. Updating your sales tax ensure that you
collect the right amount. This post elaborates on how to change sales tax in
QuickBooks Online in simple steps. Let’s start!
Why Do You Need to Change Sales Tax in QuickBooks Online?
If you are a regular user of the QuickBooks Online program, you need to
work in compliance with the tax authorities. If you have recently added sales
tax in QuickBooks, it is imperative to know about changing sales tax rates over
time. Therefore, you need to keep updating your sales tax rates regularly.
However, when changing the sales tax in QBO, you need to keep several important
things in your mind to make it smooth.
How Do I Change Sales Tax in QuickBooks?
You can change sales tax in QuickBooks manually. You can edit it using
your preferred device, be it your Android or iOS device. It takes a few steps
to get the task accomplished. Navigating through this post until the end can
help you with the relevant steps.
Steps to Change Sales Tax in QuickBooks Online
If you are using the QuickBooks Automated Sales Tax Service, you don’t
need to perform the steps. This service updates the sales tax rates
automatically. If not, you need to follow the below-given steps with the utmost
care and attention:
- In the first place, you need
to log into QuickBooks Online.
- Now locate the Taxes menu
and then click on it.
- Thereafter, you need to
click on the Sales Tax option.
- Choose the Related Tax
option located on the right side of the screen to proceed further.
- Moving ahead, select
Add/Edit Tax Rates and Agencies option.
- Once the Sales Tax Rates and
Agencies window appears on your screen, choose the appropriate tax rate
that you prefer to change.
- Now click on the Edit
button.
- When the Edit Sales Tax
Component window appears on the screen, edit the tax rate along with the
component name.
- In the end, click on the Save
button to finish the task.
Following the above-given steps, you can change your sales tax rates in
QuickBooks Online. Once done, you can go to Sales Tax Rates and Agencies to
verify the changes.
Change Sales Tax Rates in QuickBooks Desktop
If you are a QuickBooks Desktop user, then it takes a few simple steps
to change the sales tax rates in the Desktop version of the program. You can
make the changes for multiple customers all at once in the QuickBooks Desktop
application. Moreover, you can change the tax rates on every single transaction
you make for the customers. Proceeding further with the procedure, follow the
below-given steps:
- First thing first, open the
QuickBooks program on your computer.
- Next, go to the Lists
located on the top navigation bar.
- Thereafter, you need to hit
on Sales Item by navigating through the drop-down list.
- Moving ahead, right-click on
the Option and it will open a new window on your screen.
- Now in Tax Rate (%) option,
you can enter the new tax rates.
- You may also edit the Sales
Tax Name.
- Furthermore, add a
Description to it and click OK to finish the task.
These steps are the easiest ways to edit your tax rates in QuickBooks
Desktop. However, if you are facing any kind of unease, deactivate your
existing rates and set up new sales tax rates for all new transactions.
How to Edit a Sales Tax Rate on iPhone
If you are running QuickBooks Online on your iPhone, it allows you to
change single as well as combined sales tax rates along with their names and
description. However, you may not be able to change the name of your tax
agency. Follow the below-given steps carefully:
- Open QuickBooks Online
application on your iPhone in the first place.
- Now from within the Menu
icon, go to Settings.
- Thereafter, tap on the Tax
Rates option on your iPhone.
- Here, you can choose the tax
rate you desire to change or edit.
- Moving ahead, tap on the
Edit button.
- In the end, click the Save
button to get the task accomplished.
Following these steps, you can save the changed tax information for
further use on your iPhone. Additionally, you can very this tax rate
information when required.
How to Edit a Sales Tax Rate in Android
Before you proceed any further with making changes to the sales tax
rates, you need to enable the tax override feature in the first place. After
enabling the feature on your Android device, you can access the app on your
device.
You actually need to pay a visit to the web to open your QuickBooks
Online app and then create a tax code in your QuickBooks company file. It will
help you in accomplishing the desired task. Follow the below-given steps
carefully:
-
- Open the QuickBooks Online
app in the first place on your Android device.
- Next, you need to open the
transaction that you want to edit.
- Moving ahead, go to the
“Edit” icon.
- Now select the Tax entry
that you wish to edit in QuickBooks Online.
- Make the required changes in
the Tax amount and tap Done on your Android device.
This is how you can edit your sales tax rates in QuickBooks online and
on various devices. Moreover, you can also edit the tax amount of the
transaction for future needs.
Final Words!
The steps discussed in this post can help you in changing the sales tax
rates in QuickBooks Online and the Desktop version of the program. Furthermore,
it also explains the steps for your iPhone and Android devices. Changing the
tax rates regularly ensures that you are working in compliance with the tax
authorities. For more assistance, you can reach out to an experienced
QuickBooks expert.
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