Taxes

[exelabrasives]

k I'm lost? QuickBooks showed that I owed .64 more in taxes than what I figured and actually paid. Now it's messing up my books, how do I adjust this so that I balance? If I use the tax adjustment do I put it as an over or under adjustment and what account do I put it under or do I need to create a new account? I went to the help and after reading everything I could find on journal entries and tax adjustments I'm even more confused than I was before! Please help?

[Joe Williams]

Create an expense account "Over/Under Paid Taxes" and use it for the tax adjustment account when you pay taxes.

[exelabrasives]

I need to delete a tax adjustment that i did, how do i do this?

[Joe Williams]

Did you use the Tax Adjustment on the Pay Liabilities screen or did you enter a journal entry?

[exelabrasives]

I only entered it in the pay sales tax window under make adjustment