It's vital that all your transactions have the correct tax code associated with your tax totals to be accurate. QuickBooks Online is a great tool able to help you keep track of taxes paid on expenses and collected on sales so you know the amount to declare to the government. I can point you in the right direction to edit taxes on transactions
When creating a transaction, you can choose the tax rate in the Tax column of a transaction. If you don't see the tax column, there are two causes. The first would be that taxes haven't been set up on your account, and you can set them up by following these steps. The second is that above the lines on the right side of the screen, of the transactions, there is a drop-down beside Amounts are: which would be set to Out of scope of tax. You can set it to Exculusve of tax or Inclusive of tax.
If you have any other questions, feel free to reach out here.
Need QuickBooks guidance?
Log in to access expert advice and community support instantly.