How do I edit the sales tax rate Quickbooks Online?

Finance
Posted by lisa ann
2
Aug 4, 2018
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The sales tax is one of the significant expenses when tracking the sales and income. If you are using the QuickBooks Online and received the notification that the rate of your sales tax is changing, then you don’t need to worry because you have the option to change it. You have the facility to change the combined rates after modifying the component rates. We have supplied the QuickBooks Enterprise Support Number. You will there connect with our specialists who are experts in this field. They have in-depth knowledge of the software. Below, we are explaining the process of editing the sales tax rates.

Try these measures and configure the Components rates

  • Open the QuickBooks application firstly
  • Move to the menu and select the Taxes options
  • Choose the Sales Tax from and expand the Related Tasks
  • Choose the option named Add/edit tax rates and agencies
  • Click on the preferred rates and click on the edit command
  • Open the Edit Sales Tax Components to change the component name and rate from this window
  • Save the changes you have made and exit the screen.

Impacts of changed rates on previous transactions

Above is the process to change the tax rates, we will also explain the results for you. There are certain impacts on your business. The recent tax rate will be available for the upcoming transactions. Even if you assign old date to your new transactions, they will use the fresh rates. The rates for the earlier transactions would, however, remain the same until you separately modify them. The rates for the previous deals with the templates will not change at all.

You must have understood the method of changing the sales and its effects on your previous deals. If you still have doubts with this process, or want to configure more features of the QuickBooks Online, then you have the option to connect with us at the QuickBooks Helpline USA. We will talk to you and explain every method in simple steps. You can contact us any hour of the day as we are supplying around the clock services for our customers.

Read Also:-HOW TO RESOLVE 176103 ERROR FROM THE QUICKBOOKS DESKTOP?

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