Quickbooks 2004: Sales Tax Liability report doesn't compute with Sales Tax Revenue report...why?
Posted on 2005-04-18
I have been paying Sales Tax to the state of TN quarterly as required. I began using Qbooks last October, which has allowed me only one opportunity to pay sales tax and use the Sales Tax Liability and Sales Tax Revenue reports in Qbooks. The first time there were no issues. The Revenue report's bottom line of taxable income matched with the calculated tax liablity...the program appeared to do it's job correctly.
This time, something is different. The Sale Tax Revenue reports a taxable amount of 28,000. The Liability report shows that I owe tax on a much greater amount than that (about 1/3 more). Using the "Pay Sales Tax" feature, it produces the higher number as well.
Question: Can any one offer some insight as to where to look for a possible discrepancy either in Qbooks or the way I'm thinking about it?