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Hello,
I may be overthinking this, but we have our Sales Taxes hitting our Sales Tax Liability Account.
We have our Vendor (Dept. Of Rev) we have to pay.
How do I correctly apply this payment against the Sales Tax Payable Account.
I need to apply the payment somewhere, but without creating a bill I'm a little lost.
When I pay the vendor it reduces the Sales Tax Payable Account, but I'm still left with an unapplied payment giving the vendor a negative balance.
Thanks,
Steve, thanks for the answer. I had to update the 20600 Sales Tax Payable account to allow Direct Posting, after that I think this worked as expected for us (note: I'm not associated with the original poster).
Hello,
Create a Purchase Invoice to the Department of Revenue. On the Purchase Line, Type - G/L Account, No. = Sales Tax Payable Account.
Hope this helps.
Thanks,
Steve
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