Sales Tax: QuickBooks Mapping Example

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You add a Point of Sale tax code named "State" (code: STA) with a tax rate of 7.50% and paid to the "State Tax Agency".

On the next Financial Exchange with QuickBooks, Point of Sale will look to see if a QuickBooks tax item already exists with a 7.5% rate paid to this agency and if a tax code by the name of "State" already exists for this item. If found, the Point of Sale tax code is automatically mapped to the QuickBooks tax item. If not found, Point of Sale creates a new QuickBooks tax item and/or code with the following information:

 

Tax Item

Name:

<Point of sale tax rate> + <Point of Sale tax code name >
Example: 7.50% State

Description:

<Point of sale tax rate> + <Point of Sale tax code > for <Point of Sale agency>
Example: 7.50% State for State Tax Agency

Rate:

<Point of sale tax rate>
Example: 7.5%

Agency:

<Point of Sale agency>
Example: State Tax Agency

 

 

Tax Code

Code:

<Point of Sale tax code >
Example: Sta

Description:

<Point of Sale tax code name > Example: State

Tax Status:

Taxable