QB Issue Resolution:

Square Tax Rate
Answer ID: 6004

How is my Square tax calculated?

Taxes are imported into QuickBooks as part of your transactions.

QuickBooks imports the exact tax amount you recorded during the transaction you took with Square. If you already had a tax rate setup, we will use that tax rate. If more than one tax rate exists, you will see a 10% tax rate.

When you import Square transactions that include tax amounts, QuickBooks records the tax amount directly from Square in your books but does not use the tax rate to recalculate the tax amount. Therefore, if the tax rate listed is not accurate, know that the correct tax dollar amount is imported from your Square transactions.

Answer ID 6004
Products QuickBooks Online Simple Start (H)
QuickBooks Online Essentials (H)
QuickBooks Online Plus (H)
Categories Using This Product
Date Created 11/19/2013 12:20 PM
Date Updated 05/16/2014 10:23 AM
Allow Crawling? Yes

Resolution for Issue 'Square Tax Rate' available: Yes (Solved).
Source: Intuit Community forum.

Square Tax Rate: 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.

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