QB Issue Resolution:
Sounds like you either overpaid a prior period, or voided or altered a transaction from a prior period making the tax due smaller for that period, which carries forward.
Resolution for Issue 'For 1st time in QB Pro 2016 I ran Sales Tax Liability Report. Tax Collected amt is $49.96 GREATER then Sales Tax Payable amt. WHY is this happening & HOW do I fix it?' available: Yes (Solved).
Source: Intuit Community forum.
For 1st time in QB Pro 2016 I ran Sales Tax Liability Report. Tax Collected amt is $49.96 GREATER then Sales Tax Payable amt. WHY is this happening & HOW do I fix it?: 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 carries forward
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Error Recovery for carries forward [Canada]
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