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Remitted Sales Tax Payments

2000yearsago2000yearsago Member Posts: 2

I have Remitted Sales Tax Payments currently "Uncategorized Expense". The sales tax were generated through our Shopify sales and ultimately paid off from our Business bank account. In my transactions I have a bunch of Debits for all Sales tax payments made to multiple states.

How do I categorize them because they are not technically expense? They are supposed to be discount from my income.

Please note: I'm not using Waveapp to generate invoices and charge my customer sales tax. All of my transactions go through Shopify.

in Accounting Technical Support

Comments

  • 2000yearsago2000yearsago Member Posts: 2

    I was able to figure it out i think . I created a Expense account called "Sales Tax Payment", then on the transaction under income, select "Sales Tax Payment" , it will create a "Refund to Sales Tax Payment".

  • NancyCNancyC Member Posts: 148 admin

    Hey @2000yearsago ! Glad you were able to figure out a way! We also have an article in our Help Center on everything related to sales tax that I recommend keeping as a reference:

    How sales tax works in Wave

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