![]() Quickbooks Online does this for you when you enter an expense the usual way: +, Expense, pay from account checking, down below the account would be the sales tax expense. In this case, the expense would be recorded when the sales tax is paid: Debit sales tax paid expense, credit checking. If you are not recording sales tax on your invoices or sales receipts, then you likely are using the cash basis for sales tax. (Example: Accounts Payable - Vendor Department of Revenue). (Debit liability, credit checking.) The expense or check would be recorded as paid from account checking, account paid would be your sales tax liability account. ![]() (The accrual basis records expenses when incurred, not when paid: so on your invoice Quickbooks adds this for you: debit expense, credit liability.) Then the liability for the sales tax is reduced when the sales tax is paid. Quickbooks does this for you when you set up sales tax in Quickbooks Online and record it on invoices, or use the invoice sales tax feature in Quickbooks Desktop. On the accrual basis, you record a liability and an expense when you collect the sales tax from your customers. Many small private businesses however, do use the cash basis for their books, and federal income tax is calculated on the cash basis. If you are using GAAP (generally accepted accounting procedure - which is required for public companies), you are using the accrual basis. Note: See Technical support solutions to view the minimum browser requirements for credit card payments.The answer to this question depends on whether you are keeping your books on the cash basis or the accrual basis. Select Log in or Create account below to get started. To continue to make a payment by credit or debit card, you will need an Online Services account with the department. Questions regarding content, privacy policies and security procedures of the card service provider should be directed to that provider, and not to DTF. The decision to use or not to use the products or services offered by the card services provider is entirely up to the site user. DTF will not receive any personal card information, such as card number or card account status. Users should also note that, following authorization of the card payment, the card services provider will provide to DTF only that information necessary for DTF to properly credit the payment to the tax account (i.e., information identifying the taxpayer, the payment amount and tax or bill information). Users who decide to proceed with the transaction will receive a confirmation number. The tax payment and convenience fee will appear as two different charges on the cardholder statement. However, users will be informed of the amount of the fee before they confirm the card payment. The card services provider will charge a non-refundable convenience fee, based on the amount of payment, to users to cover its cost of providing this service. Site users who decide to pay tax liabilities by payment card will be asked by the card services provider to furnish personal identifying information, name as it appears on the card, card type, the card number and expiration date, security code, zip code of the billing address and the amount of the payment and tax or bill information. Users should check DTF's Web site for information and updates regarding card payments, including but not limited, to the types of tax liabilities for which the card payment option is available.ĭTF has made arrangements with a credit and debit card services ("card services") provider, Wells Fargo, to provide these card services. ![]() ![]() Therefore, DTF permits payment of many types of tax liabilities with a credit or debit card, using the Internet. The New York State Department of Taxation and Finance ("DTF") is committed to providing its customers with the highest levels of service. Read the payment card disclaimer before making a payment. No part of this fee goes to the Tax Department.īe sure to note the convenience fee and read the terms and conditions before initiating your credit or debit card payment.The convenience fee is in addition to the tax you owe and will show as a separate charge on the cardholder statement.For example, if you pay $100.00 with a credit or debit card, you will be charged a convenience fee of $2.20. The convenience fee is based on the amount of the payment. Wells Fargo charges a convenience fee of 2.20% for each card payment you make. To provide you with the option to pay by credit or debit card, the Tax Department has made arrangements with a card services provider, Wells Fargo. ![]() Credit and debit card payment information ![]()
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