need to fix up sales tax account in 2005 Pro

Posted by Phil Nelson on March 5, 2007, 3:07 pm

Please log in for more thread options

Looking at the register for "other current liability" "sales tax
payable", I see only an increasing balance, although I made a payment
last year. I think I didn't use the "pay sales tax" menu item (didn't
know it was there at the time), but I show a check with an expense to
the account in question. So shouldn't there be a corresponding payment
in the "sales tax payable"?

Anyone willing to help me fix it up?

I suppose I need to find out where the money from the check came from,
and how to transfer the amount from "sales tax payable".

--
Phil Nelson

Posted by Laura on March 5, 2007, 3:29 pm

Please log in for more thread options

> Looking at the register for "other current liability" "sales tax

> payable", I see only an increasing balance, although I made a payment

> last year. I think I didn't use the "pay sales tax" menu item (didn't

> know it was there at the time), but I show a check with an expense to

> the account in question. So shouldn't there be a corresponding payment

> in the "sales tax payable"?

> Anyone willing to help me fix it up?

> I suppose I need to find out where the money from the check came from,

> and how to transfer the amount from "sales tax payable".

You will need to delete these checks and reissue them using the "pay sales
tax" tool as QB does not recognize regular checks written against the
liabilities. The other problem might be the account you used on the checks
was for an expense account instead of the liability account.

First locate those payments. Make sure the sum of them matches your balance
in the sales tax payable account. Write down dates, check numbers, etc.
Delete the incorrect ones and redo them properly.

Posted by Philip Nelson on March 5, 2007, 4:50 pm

Please log in for more thread options

Laura wrote:

>> Looking at the register for "other current liability" "sales tax

>> payable", I see only an increasing balance, although I made a payment

>> last year. I think I didn't use the "pay sales tax" menu item (didn't

>> know it was there at the time), but I show a check with an expense to

>> the account in question. So shouldn't there be a corresponding payment

>> in the "sales tax payable"?

>> Anyone willing to help me fix it up?

>> I suppose I need to find out where the money from the check came from,

>> and how to transfer the amount from "sales tax payable".

> You will need to delete these checks and reissue them using the "pay

> sales tax" tool as QB does not recognize regular checks written against

> the liabilities. The other problem might be the account you used on the

> checks was for an expense account instead of the liability account.

> First locate those payments. Make sure the sum of them matches your

> balance in the sales tax payable account. Write down dates, check

> numbers, etc. Delete the incorrect ones and redo them properly.

Fortunately, there is only one payment (fairly new business, paying
yearly). I will look at the help to find a way to delete the check,
I only saw a "void" option in the context menu. My first plan was
to delete the check, then run the "pay sales tax", re-writing the
check with the same date and number (to match the check already
written). When I couldn't see how to delete the check, my plan b
was to make a register entry to move the money from wherever it is
to the sales tax account. But first I have to find out where it is.

Or use another plan recommended by someone more experienced than I.

--
Phil Nelson

Posted by Joanne on March 5, 2007, 5:00 pm

Please log in for more thread options

> My first plan was

> to delete the check, then run the "pay sales tax", re-writing the

> check with the same date and number (to match the check already

> written).

That's the answer.

> When I couldn't see how to delete the check,

Ctrl-Delete

> But first I have to find out where it is.

Ctrl-F for the "Find" menu, Advanced Find Tab - Amount, then enter the
amount of the check.

There are quite a few ways to find something, but this will work.

--
Sincerely,
Joanne

If it's right for you, then it's right, . . . . . for you!!!

http://www.jobird.com

Posted by Philip Nelson on March 5, 2007, 6:47 pm

Please log in for more thread options

Joanne wrote:

>> My first plan was

>> to delete the check, then run the "pay sales tax", re-writing the

>> check with the same date and number (to match the check already

>> written).

> That's the answer.

>> When I couldn't see how to delete the check,

> Ctrl-Delete

>> But first I have to find out where it is.

> Ctrl-F for the "Find" menu, Advanced Find Tab - Amount, then enter the

> amount of the check.

> There are quite a few ways to find something, but this will work.

OK, actually I found ^D first, which seemed to work. I was then able
to recreate the check with the same date and amount (after making some
adjustments- I now have an additional check in the amount of $13 and
change for taxes I think were owed but not paid prior to 2006, which I
am not sure what to do with and probably shouldn't mention here, and a
new account called "sales tax adj." which I created to hold the $0.84
that my tax guy told me last year didn't matter, but now had to go
somewhere so QB would recreate the check in the same amount).

I hope that will work, and thanks for the help!

--
Phil Nelson