Arizona contractors TPT

steve_p

Senior Member
For the Arizona guys. Every month TPT time comes around and I go through Quicknooks and enter amounts on an excel sheet.

Has anyone been able to get Quicknooks to generate an accurate report?
 

kwired

Electron manager
Location
NE Nebraska
For the Arizona guys. Every month TPT time comes around and I go through Quicknooks and enter amounts on an excel sheet.

Has anyone been able to get Quicknooks to generate an accurate report?
What is TPT time?

Never heard of Quicknooks, have heard of Quickbooks and my wife has a Nook book reader is this a version that runs on a Nook?:)
 

steve_p

Senior Member
We have to collect sales tax so each month do a report breaking it down to county, city, county/city.
 

kwired

Electron manager
Location
NE Nebraska
We have to collect sales tax so each month do a report breaking it down to county, city, county/city.
Do you have each county, city, other tax jurisdiction set up as separate sales tax items? If so your reports can be sorted to display each separately or combined.

If more than one sales tax applies to a specific sale you can create sales tax items that combine individual items. Look into the help menu in Quickbooks it tells you pretty straightforward how to do this.
 

hbiss

EC, Westchester, New York NEC: 2014
Location
Hawthorne, New York NEC: 2014
Occupation
EC
I agree with you kwired and also have it setup as you say but I find sales tax to be one of the most disfunctional things about Quickbooks. For instance here in NY we get a tax collection credit that comes off the tax we collect. I have the "adjustment" in QB go to a sales tax adjustment account that is income. God knows what QB does with it as it seems to go back to all invoices and change the tax rate. I just want it to be credited to the sales tax adjustment account as regular income and leave everything else alone.

Look into the help menu in Quickbooks it tells you pretty straightforward how to do this.
There is nothing in the QB help that is straightforward. :happysad:

-Hal
 

hbiss

EC, Westchester, New York NEC: 2014
Location
Hawthorne, New York NEC: 2014
Occupation
EC
I just pay the sales tax when I buy the material. A whole lot simpler.
That's not what he and I are talking about. I do pay tax when I buy material. But in this state at least we have to collect sales tax from the customer on service and repair work and send it to the state quarterly. If you don't you get in BIG trouble.


I hope you aren't one of those who doesn't understand the sales tax laws of the states you do work in. :eek:

-Hal
 

kwired

Electron manager
Location
NE Nebraska
I agree with you kwired and also have it setup as you say but I find sales tax to be one of the most disfunctional things about Quickbooks. For instance here in NY we get a tax collection credit that comes off the tax we collect. I have the "adjustment" in QB go to a sales tax adjustment account that is income. God knows what QB does with it as it seems to go back to all invoices and change the tax rate. I just want it to be credited to the sales tax adjustment account as regular income and leave everything else alone.


There is nothing in the QB help that is straightforward. :happysad:

-Hal
Did you set this "adjustment" up as a sales tax item? I have tax collection credit also but don't have that issue. You make the adjustment as a credit at the time you are paying your sales taxes. If you set it up as a sales tax item, it would show up on every invoice or sales transaction.
 

A/A Fuel GTX

Senior Member
Location
WI & AZ
That's not what he and I are talking about. I do pay tax when I buy material. But in this state at least we have to collect sales tax from the customer on service and repair work and send it to the state quarterly. If you don't you get in BIG trouble.


I hope you aren't one of those who doesn't understand the sales tax laws of the states you do work in. :eek:

-Hal
Sorry, I've never heard of that kind of tax. Another reason this country needs tax reform. What a travesty.
 

kwired

Electron manager
Location
NE Nebraska
Sorry, I've never heard of that kind of tax. Another reason this country needs tax reform. What a travesty.
Those taxes would be on State and local levels, not Federal taxes. I think many places sales of goods and services are taxable for repairs but not necessarily for installations that are "annexed into real estate". The line between the two is not always that clear, and can be very conditional sometimes.
 

hbiss

EC, Westchester, New York NEC: 2014
Location
Hawthorne, New York NEC: 2014
Occupation
EC
Did you set this "adjustment" up as a sales tax item? I have tax collection credit also but don't have that issue. You make the adjustment as a credit at the time you are paying your sales taxes. If you set it up as a sales tax item, it would show up on every invoice or sales transaction.
Yes and that's exactly what I don't want it to do. They are paying you to collect the tax so it's income in the form of a credit. The tax on your sales shouldn't change. Wish QB would figure that out.

Sorry, I've never heard of that kind of tax. Another reason this country needs tax reform. What a travesty.

Ummm have a look here http://www.revenue.wi.gov/salesanduse/

and here

http://www.azdor.gov/Business/TransactionPrivilegeTax/TPTRates.aspx

Hopefully you won't spend too much time in jail.:happysad:

-Hal
 

kwired

Electron manager
Location
NE Nebraska
Yes and that's exactly what I don't want it to do. They are paying you to collect the tax so it's income in the form of a credit. The tax on your sales shouldn't change. Wish QB would figure that out.
I still think you have something set up wrong, I have been using it and doing exactly what you say you want to do for a long time.

It doesn't automatically take your credit for you, you have to file your tax return, and make a manual adjustment for the credit. When you make a payment is the easiest time to make the adjustment, as they have a place to do so in the payment window, not sure what is in latest editions but I would guess it is still that way or very similar.
 

hbiss

EC, Westchester, New York NEC: 2014
Location
Hawthorne, New York NEC: 2014
Occupation
EC
It doesn't automatically take your credit for you, you have to file your tax return, and make a manual adjustment for the credit. When you make a payment is the easiest time to make the adjustment, as they have a place to do so in the payment window, not sure what is in latest editions but I would guess it is still that way or very similar.
Yes, I know! That's exactly what I do.

-Hal
 

kwired

Electron manager
Location
NE Nebraska
Yes, I know! That's exactly what I do.

-Hal
I do not see how if you do it that way it will make changes to invoices like you earlier said it does.

If you set the adjustment up as a sales tax item and apply that item to an invoice then yes the adjustment is automatically included in the net tax amount for that invoice, but that is not the proper way to set up the credit.

Unless QB has changed something in recent editions. I am still using 2007, but this process was same in earlier editions, I would still guess you have to do about the same thing in the newer editions.
 
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