How to Change Tax Codes in Quickbooks

QuickBooks Accounting software is small-business software used by over 3 million businesses. It is used to create and manage financial statements and reports. The software also aids businesses in managing payroll, creating financial statements and paying bills. QuickBooks POS (Point of Sale) software is a companion to the accounting software. It can be used separately or with the standard version of QuickBooks software.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• QuickBooks
• Computer

The Steps

1. Review sales tax configuration. If you charge a sales tax in your business you must also define tax codes in your software before configuring in QuickBooks POS.

2. Select corresponding tax item or group. You probably did this when doing the initial set up in "Setup Interview." However, you can edit the tax information in Company preferences. If you selected a tax code in Quickbooks POS, but didn't match it to the corresponding Quickbooks code, the program will create a new tax code.

3. Open the company preference module.

4. Select the "Manage Tax" categories button and input the names for the additional categories or tax codes you need to change. The default tax category is "Taxes." This category cannot be deleted unless new categories are entered.

5. Run the Sales Tax Summary report to ensure your tax codes have changed.

References

• QuickBooks Online Support