Sales Tax Adjustment at Filing
Add a quick option to create a manual journal entry to adjust the sales tax amount paid when reporting and filing sales taxes.
My state (and others, I assume) forces me to round up to the nearest dollar the amount of sales tax I owe when I file, which results in the filed number being different than what's in my "sales tax" account in Xero. I then have to add a manual journal entry to adjust that amount - usually debiting from one of my product categories.
It would be nice to have the option to do this automatically when marking my sales tax report as filed (a couple of clicks to make an adjustment and choose the proper account), rather than having to go find the journal report and create a journal entry manually. This feature exists in Quickbooks.
Kris Kelso
shared this idea
Hi team, returning to confirm that we've now released an improvement so you can handle variances in the Sales tax amount payment and make sure this matches what is owed to the state. You'll find you can now record an adjustment when marking a State sales tax report complete. See more on this in Xero Central.