QB Issue Resolution:
1 – Setup a “Penalties and Interest” account which is an “Expense” type account, not “Other Current Liability Acct”
2 – Create a bill (Vendor would be the Taxation Dep’t and the bill would be for $50. Under the “Expenses” tab, the account I select would be the “Penalties and Interest” Expense account.
Resolution for Issue 'Accounting for Sales Tax Penalty w/ QB' available: Yes (Solved).
Source: Intuit Community forum.
Accounting for Sales Tax Penalty w/ QB: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for Accounting for Sales
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Error Recovery for Accounting for Sales [Canada]
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