In order to track tax as a liability in QuickBooks for non-US accounts, follow the below steps:
- Go to Chart of Accounts Listing and choose to create a new account.
- Create a liability account of type Other Current Liabilities and Detail Type of Current Tax Liability, give it a name of your choice, in our illustration we have given a name of Taxes from OneBill.
- Go to Products / Services and choose to create a new Product/Service.
- Choose Service.
- Enter the Product/Service Name, in our illustration we have given a name as Taxes collected in OneBill.
- Choose the Account as the one Created in Step 2, in our case it is Taxes from OneBill.
- Verify that the account is set accordingly.
- Configure OneBill to send taxes to the product created in Step 6, please note this value is the product/service name and not the account name.