Integrate Taxes for Liability Accounts Quickbooks
Allow taxes to be tracked separately for download properly into Quickbooks. Current system does not track the HST tax as would be needed in a liability account in any accounting system. This requires a lot of manipulation to re-enter the data into our accounts.
Anne Gammage
shared this idea
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Alex Sirota commented
We have built a new scenario in Integromat to support tax break our and much more. See https://waxm.newpathconsulting.com/waqm/ for more details.
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The ideal situation would be to expand the list of accounts and add a liability account called Taxes which could export the taxes assessed on each invoice.
There is a way to create such an account in Quickbooks
They are liability accounts because the funds collected here have to be "paid back" (minus any eligible sales taxes paid out on expenses) to the government and thus are a liability.
