ebs Associates Blog

How to make sales tax item adjustments in QuickBooks

Posted by Aubrey Leahy on Mar 23, 2018

The sales tax adjustment feature in QuickBooks doesn’t adjust the individual sales tax item. You must create a zero cost Sales Receipt or Credit Memo depending on the plus/minus adjustment needed.  The details are in the article below.

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Topics: QuickBooks Training, Training & Tutorials, sales tax, QuickBooks How-To, sales tax adjustment, sales tax adjustment in quickbooks, quickbooks sales tax

Tax Fraud can bring serious consequences

Posted by Avalara on Dec 7, 2017

Washington businessman Mark Standley was recently sentenced to six years in prison for one of the largest sales tax thefts in Washington state history. As the owner of a drywall company, Standley drastically under-reported the amount of sales tax collected from customers over a six year time period.
According to court documents, he only paid the Department of Revenue (DOR) $3,000 of the $855,000 tax owed. To make matters worse, Standley refused to pay workers’ compensation premiums for his employees.

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Topics: avalara, sales tax, Accounting Software

How To Set-Up Sales Tax in QuickBooks Online

Posted by Chris Low on Oct 26, 2017

Sales tax is one of the more complicated concepts supported by QuickBooks Online.

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Topics: QuickBooks Online, QuickBooks Training, sales tax, QuickBooks How-To

The fine art of sales tax — and vice versa

Posted by Chris Low on Jun 21, 2016

The fine art of sales tax — and vice versa

Repost from Avalara

In 2015, fine art sales amounted to a whopping $63.8 billion.  While this is nearly 5 billion dollars less than the art market’s all-time high in 2014, visual art is still a big business. 

Art sales pose interesting problems for sales taxation.  Some of those problems boil down to that most eternal of questions: what, precisely, is art?  Is it just a painting? Or is it an investment?

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Topics: QuickBooks, avalara, sales tax, QuickBooks Integrations

More states dare to mess with nexus

Posted by Chris Low on Jun 17, 2016

More states dare to mess with nexus

$24 billion. That’s the amount of uncollected sales tax from ecommerce retail sales at last count. Those billions of dollars are a powerful motivator for U.S. states who are collectively facing $19 billion in budget shortfalls over the next 18 months. As states get more concerned (and creative) about revenue sources, they’re turning their attention to nexus.

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Topics: QuickBooks, avalara, sales tax, QuickBooks Integrations

Hit the books! Back-to-school starts now for retailers

Posted by Chris Low on Jun 14, 2016

Hit the books! Back-to-school starts now for retailers:

The sprint to the end of the school year is underway. Students are working to finish assignments and prepare for exams while keeping one eye glued to the calendar: three weeks left; then one; summer! Most kids will be happy to close the books and not think about the upcoming school year for two months. But for retailers, now is the time to prepare for the back-to-school retail rush.

Back-to-school spending is second only to winter holiday spending. According to the National Retail Federation (NRF), total combined spending for back-to-school and college reached approximately $68 billion in 2015. Although some consumers start earlier, most do their back-to-school shopping during July and August. Retailers have no time to lose.


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Topics: QuickBooks, avalara, sales tax, QuickBooks Integrations

Business execs weigh in: sales tax automation is a must for scale, growth

Posted by Kelli Bachofner on Apr 29, 2016

A recent study by Deloitte found that nearly half of all mid-market companies not only automate, but do it in multiple areas of their business. And why not? It’s a great way to offload time-consuming tasks and free up resources for more value-add activities. And what could be more tedious than sales and use tax compliance?

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Topics: QuickBooks, empowered nw, integrated solutions, sales tax




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